Wearable Devices Ltd. (NASDAQ:WLDS) Sees Large Increase in Short Interest

Wearable Devices Ltd. (NASDAQ:WLDS) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 399,320 shares, a growth of 88.8% from the April 15th total of 211,559 shares. Approximately 11.3% of the company’s stock are short sold. Based on an average daily volume of 13,605,027 shares, the short-interest ratio is currently 0.0 days.

Wearable Devices Stock Down 1.7%

WLDS stock traded down $0.02 during midday trading on Friday, hitting $0.94. The stock had a trading volume of 164,583 shares, compared to its average volume of 7,699,876. Wearable Devices has a 52 week low of $0.93 and a 52 week high of $34.20. The stock has a 50-day simple moving average of $1.37 and a 200 day simple moving average of $3.30.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WLDS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Wearable Devices in a report on Friday, March 27th. Wall Street Zen raised Wearable Devices from a “strong sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wearable Devices stock. Armistice Capital LLC acquired a new position in shares of Wearable Devices Ltd. (NASDAQ:WLDS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned approximately 6.31% of Wearable Devices at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.24% of the company’s stock.

About Wearable Devices

Wearable Devices Ltd. engages in the development of a non-invasive neural input interface for controlling digital devices using subtle touchless finger movements. The company offers Mudra development kits that enable users to control digital devices, including consumer electronics, smart watches, smartphones, AR glasses, VR headsets, televisions, personal computers and laptop computers, drones, robots, and others through finger movements and hand gestures; and SNC sensor module, an operating system (OS) software package and algorithm package to customers.