Wearable Devices (NASDAQ:WLDS) Shares Down 6.5% – Time to Sell?

Wearable Devices Ltd. (NASDAQ:WLDS) shares fell 6.5% on Monday . The stock traded as low as $0.7120 and last traded at $0.73. 159,357 shares changed hands during trading, an increase of 17% from the average session volume of 135,705 shares. The stock had previously closed at $0.7804.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Wearable Devices Price Performance

The stock has a 50-day simple moving average of $0.99 and a 200-day simple moving average of $2.16.

Wearable Devices’s stock is scheduled to reverse split on the morning of Wednesday, March 11th. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, March 10th.

Hedge Funds Weigh In On Wearable Devices

A hedge fund recently raised its stake in Wearable Devices stock. Kathmere Capital Management LLC grew its holdings in Wearable Devices Ltd. (NASDAQ:WLDS) by 42.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,300 shares of the company’s stock after purchasing an additional 56,800 shares during the period. Kathmere Capital Management LLC owned approximately 3.21% of Wearable Devices worth $218,000 at the end of the most recent quarter. 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.