Wearable Devices (NASDAQ:WLDS) Stock Price Up 16.4% – Still a Buy?

Shares of Wearable Devices Ltd. (NASDAQ:WLDS) were up 16.4% on Monday . The company traded as high as $3.33 and last traded at $2.98. Approximately 983,023 shares were traded during trading, The stock had previously closed at $2.56.

Wall Street Analyst Weigh In

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

Wearable Devices Price Performance

The firm has a fifty day moving average of $2.18 and a 200-day moving average of $4.45.

Institutional Investors Weigh In On Wearable Devices

An institutional investor recently bought a new position in Wearable Devices stock. Armistice Capital LLC bought a new stake in Wearable Devices Ltd. (NASDAQ:WLDS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission. 0.24% of the stock is currently owned by institutional investors.

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.