Wearable Devices (NASDAQ:WLDS) Trading Down 7.2% – Should You Sell?

Wearable Devices Ltd. (NASDAQ:WLDS)’s share price traded down 7.2% during mid-day trading on Monday . The company traded as low as $0.7720 and last traded at $0.7765. 149,222 shares were traded during trading, a decline of 38% from the average session volume of 242,281 shares. The stock had previously closed at $0.8369.

Analyst Ratings Changes

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

Wearable Devices Price Performance

The business has a fifty day moving average of $1.10 and a 200-day moving average of $2.54.

Hedge Funds Weigh In On Wearable Devices

An institutional investor recently bought a new position in Wearable Devices stock. Armistice Capital LLC bought a new position in Wearable Devices Ltd. (NASDAQ:WLDS) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 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 currently owned by institutional investors and hedge funds.

Wearable Devices Company Profile

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.