Short Interest in Wearable Devices Ltd. (NASDAQ:WLDS) Expands By 385.2%

Wearable Devices Ltd. (NASDAQ:WLDS) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 260,817 shares, a growth of 385.2% from the July 15th total of 53,758 shares. Based on an average daily volume of 6,644,392 shares, the short-interest ratio is currently 0.0 days. Currently, 22.1% of the shares of the company are short sold.

Wearable Devices Stock Down 2.5%

WLDS traded down $0.07 on Friday, reaching $2.78. The company had a trading volume of 315,540 shares, compared to its average volume of 1,034,256. Wearable Devices has a fifty-two week low of $1.30 and a fifty-two week high of $102.60. The company’s fifty day moving average is $2.29 and its 200 day moving average is $4.06.

Institutional Trading of Wearable Devices

An institutional investor recently bought a new stake in Wearable Devices stock. Armistice Capital LLC acquired a new position in shares of Wearable Devices Ltd. (NASDAQ:WLDS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned 6.31% of Wearable Devices at the end of the most recent reporting period. Institutional investors and hedge funds own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.