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

Wearable Devices Ltd. (NASDAQ:WLDS) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 260,817 shares, a growth of 385.2% from the July 15th total of 53,758 shares. Based on an average trading volume of 6,644,392 shares, the short-interest ratio is presently 0.0 days. Currently, 22.1% of the company’s stock are sold short.

Wearable Devices Stock Down 18.7%

WLDS stock opened at $2.91 on Wednesday. Wearable Devices has a fifty-two week low of $1.30 and a fifty-two week high of $102.60. The business has a 50-day moving average of $2.28 and a 200-day moving average of $4.16.

Hedge Funds Weigh In On Wearable Devices

An institutional investor recently bought a new stake in Wearable Devices stock. Armistice Capital LLC acquired a new position in Wearable Devices Ltd. (NASDAQ:WLDS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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. Institutional investors own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Wearable Devices in a report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus 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.