Short Interest in Wearable Devices Ltd. (NASDAQ:WLDS) Rises By 27.3%

Wearable Devices Ltd. (NASDAQ:WLDS) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 393,722 shares, a growth of 27.3% from the January 15th total of 309,253 shares. Approximately 6.6% of the company’s shares are sold short. Based on an average daily trading volume, of 376,992 shares, the short-interest ratio is currently 1.0 days. Based on an average daily trading volume, of 376,992 shares, the short-interest ratio is currently 1.0 days. Approximately 6.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Wearable Devices

An institutional investor recently raised its position in Wearable Devices stock. Kathmere Capital Management LLC grew its stake in Wearable Devices Ltd. (NASDAQ:WLDS) by 42.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 191,300 shares of the company’s stock after acquiring an additional 56,800 shares during the quarter. Kathmere Capital Management LLC owned 3.21% of Wearable Devices worth $218,000 at the end of the most recent quarter. 0.24% of the stock is owned by institutional investors and hedge funds.

Wearable Devices Stock Performance

NASDAQ:WLDS opened at $0.85 on Monday. Wearable Devices has a 12-month low of $0.83 and a 12-month high of $11.40. The stock’s fifty day simple moving average is $1.22 and its 200-day simple moving average is $2.23.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Wearable Devices in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

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.