Wearable Devices Ltd. (NASDAQ:WLDS) Short Interest Down 64.7% in June

Wearable Devices Ltd. (NASDAQ:WLDS) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 56,877 shares, a decrease of 64.7% from the June 15th total of 161,124 shares. Approximately 4.8% of the company’s stock are short sold. Based on an average daily trading volume, of 208,108 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WLDS shares. Wall Street Zen upgraded shares of Wearable Devices from a “strong sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wearable Devices in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Wearable Devices Stock Performance

Shares of WLDS opened at $1.44 on Tuesday. Wearable Devices has a 12 month low of $1.44 and a 12 month high of $102.60. The firm has a fifty day simple moving average of $2.33 and a 200 day simple moving average of $5.38.

Institutional Investors Weigh In On Wearable Devices

A hedge fund recently bought a new position in Wearable Devices stock. Armistice Capital LLC acquired a new position in shares of Wearable Devices Ltd. (NASDAQ:WLDS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned about 6.31% of Wearable Devices at the end of the most recent reporting period. Hedge funds and other institutional investors 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.