Wearable Devices (NASDAQ:WLDS) Posts Earnings Results

Wearable Devices (NASDAQ:WLDS) released its quarterly earnings data on Monday. The company reported ($1.75) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $0.17 million during the quarter.

Wearable Devices Stock Performance

NASDAQ:WLDS traded down $0.32 during trading hours on Monday, reaching $2.27. The stock had a trading volume of 6,343,014 shares, compared to its average volume of 1,011,820. Wearable Devices has a 52 week low of $1.30 and a 52 week high of $102.60. The company has a 50 day moving average price of $2.32 and a two-hundred day moving average price of $3.79.

Institutional Investors Weigh In On Wearable Devices

A hedge fund recently bought a new position in Wearable Devices stock. Armistice Capital LLC acquired a new position in Wearable Devices Ltd. (NASDAQ:WLDS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned approximately 6.31% of Wearable Devices as of its most recent SEC filing. 0.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WLDS shares. Wall Street Zen upgraded Wearable Devices to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Wearable Devices in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

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.