Short Interest in Wearable Devices Ltd. (NASDAQ:WLDS) Decreases By 35.6%

Wearable Devices Ltd. (NASDAQ:WLDS) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 252,094 shares, a decrease of 35.6% from the February 26th total of 391,365 shares. Currently, 7.1% of the shares of the stock are sold short. Based on an average trading volume of 120,131 shares, the short-interest ratio is currently 2.1 days.

Analyst Ratings Changes

Several brokerages have commented on WLDS. Weiss Ratings reissued a “sell (d-)” rating on shares of Wearable Devices in a report on Monday, December 22nd. Wall Street Zen raised shares of Wearable Devices from a “strong sell” rating to a “hold” rating in a report on Sunday, March 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Wearable Devices Price Performance

Shares of NASDAQ:WLDS opened at $1.24 on Friday. The company’s fifty day moving average price is $2.36 and its 200-day moving average price is $6.27. Wearable Devices has a one year low of $1.24 and a one year high of $34.20.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wearable Devices stock. Armistice Capital LLC purchased a new stake in shares of Wearable Devices Ltd. (NASDAQ:WLDS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned approximately 6.31% of Wearable Devices as of its most recent SEC filing. 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.