Wearable Devices (NASDAQ:WLDS) Trading Down 9.3% – Here’s What Happened

Wearable Devices Ltd. (NASDAQ:WLDS) fell 9.3% during trading on Tuesday . The stock traded as low as $1.3543 and last traded at $1.37. 347,535 shares were traded during mid-day trading, an increase of 40% from the average session volume of 247,512 shares. The stock had previously closed at $1.51.

Analyst Upgrades and Downgrades

WLDS has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wearable Devices in a research report on Monday. Wall Street Zen raised shares of Wearable Devices to a “sell” rating in a report on Saturday, October 4th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Wearable Devices Price Performance

The business’s 50 day moving average is $2.13 and its two-hundred day moving average is $2.35.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wearable Devices stock. Kathmere Capital Management LLC bought a new stake in Wearable Devices Ltd. (NASDAQ:WLDS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 134,500 shares of the company’s stock, valued at approximately $655,000. Kathmere Capital Management LLC owned about 2.38% of Wearable Devices as of its most recent SEC filing. Hedge funds and other institutional investors own 0.24% of the company’s stock.

Wearable Devices Company Profile

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.