WORK Medical Technology Group LTD (NASDAQ:WOK) Sees Large Increase in Short Interest

WORK Medical Technology Group LTD (NASDAQ:WOK) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totaling 428,056 shares, a growth of 262.8% from the May 31st total of 117,997 shares. Based on an average daily volume of 156,294,998 shares, the days-to-cover ratio is presently 0.0 days.

WORK Medical Technology Group Price Performance

WORK Medical Technology Group stock opened at $2.22 on Friday. WORK Medical Technology Group has a one year low of $1.78 and a one year high of $930,000.00. The company’s fifty day moving average price is $73.26 and its two-hundred day moving average price is $905.47.

Wall Street Analysts Forecast Growth

WOK has been the subject of several research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of WORK Medical Technology Group in a report on Friday, May 1st. Wall Street Zen raised shares of WORK Medical Technology Group to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Insider Buying and Selling

In other news, major shareholder Financial Lp Hrt bought 880,456 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were bought at an average cost of $0.05 per share, with a total value of $44,022.80. Following the transaction, the insider directly owned 1,271,912 shares in the company, valued at approximately $63,595.60. This trade represents a 224.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders bought 960,133 shares of company stock valued at $957,353 and sold 180,440 shares valued at $984,223.

Institutional Trading of WORK Medical Technology Group

A hedge fund recently bought a new position in WORK Medical Technology Group stock. Sabby Management LLC acquired a new stake in shares of WORK Medical Technology Group LTD (NASDAQ:WOK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,724,004 shares of the company’s stock, valued at approximately $204,000. WORK Medical Technology Group comprises about 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th largest position. Sabby Management LLC owned 590.89% of WORK Medical Technology Group as of its most recent filing with the Securities and Exchange Commission.

WORK Medical Technology Group Company Profile

WORK Medical Technology Group Ltd. engages in developing health instruments. It manufactures and sells medical devices, including endotracheal tubes, laryngeal mask airways, heat and moisture exchanging filters, disposable breathing circuits, nebulizer kits, and yankauer suction sets. The company was founded on March 1, 2022 and is headquartered in Hangzhou, China.