WORK Medical Technology Group LTD (NASDAQ:WOK) Short Interest Update

WORK Medical Technology Group LTD (NASDAQ:WOK) was the target of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 117,997 shares, a decrease of 74.5% from the May 14th total of 462,339 shares. Currently, 1,180.0% of the shares of the company are sold short. Based on an average daily volume of 116,523,069 shares, the short-interest ratio is currently 0.0 days.

Insider Buying and Selling at WORK Medical Technology Group

In other news, major shareholder Financial Lp Hrt acquired 2,746,332 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $0.14 per share, with a total value of $384,486.48. Following the completion of the acquisition, the insider owned 351,959 shares of the company’s stock, valued at approximately $49,274.26. This trade represents a -114.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought 7,967,837 shares of company stock valued at $913,344 over the last quarter.

Institutional Trading of WORK Medical Technology Group

A hedge fund recently bought a new stake in WORK Medical Technology Group stock. Sabby Management LLC purchased a new position in shares of WORK Medical Technology Group LTD (NASDAQ:WOK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,724,004 shares of the company’s stock, valued at approximately $204,000. WORK Medical Technology Group makes up 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th biggest position. Sabby Management LLC owned approximately 590.89% of WORK Medical Technology Group at the end of the most recent reporting period.

WORK Medical Technology Group Stock Down 17.7%

Shares of WOK traded down $0.02 during mid-day trading on Friday, reaching $0.08. The company had a trading volume of 58,100,492 shares, compared to its average volume of 131,521,648. WORK Medical Technology Group has a 52-week low of $0.06 and a 52-week high of $9,300.00. The stock has a 50 day moving average of $0.96 and a two-hundred day moving average of $48.85.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of WORK Medical Technology Group in a report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

About WORK Medical Technology Group

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.