Wearable Devices (NASDAQ:WLDS) Stock Price Down 6.5% – Should You Sell?

Wearable Devices Ltd. (NASDAQ:WLDS) was down 6.5% on Monday . The company traded as low as $0.7120 and last traded at $0.73. Approximately 159,357 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 135,705 shares. The stock had previously closed at $0.7804.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wearable Devices in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Wearable Devices Stock Performance

The firm’s 50 day moving average is $2.89 and its 200-day moving average is $6.45.

Institutional Investors Weigh In On Wearable Devices

A hedge fund recently raised its stake in Wearable Devices stock. Kathmere Capital Management LLC increased its holdings in Wearable Devices Ltd. (NASDAQ:WLDS) by 42.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,300 shares of the company’s stock after purchasing an additional 56,800 shares during the period. Kathmere Capital Management LLC owned 3.21% of Wearable Devices worth $218,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.24% of the company’s stock.

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.