WORK Medical Technology Group (NASDAQ:WOK) Stock Price Down 0.7% – Here’s What Happened

WORK Medical Technology Group LTD (NASDAQ:WOK) was down 0.7% on Thursday . The stock traded as low as $1.38 and last traded at $1.45. Approximately 18,451 shares traded hands during trading, a decline of 93% from the average daily volume of 283,634 shares. The stock had previously closed at $1.46.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WOK shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of WORK Medical Technology Group in a research note on Tuesday, February 3rd. Wall Street Zen upgraded WORK Medical Technology Group to a “hold” rating in a report on Friday, November 28th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

WORK Medical Technology Group Trading Down 0.7%

The stock has a fifty day moving average of $2.68 and a 200-day moving average of $2,250.30.

Institutional Investors Weigh In On WORK Medical Technology Group

An institutional investor recently bought a new position in WORK Medical Technology Group stock. Sabby Management LLC acquired a new position in WORK Medical Technology Group LTD (NASDAQ:WOK) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,724,004 shares of the company’s stock, valued at approximately $204,000. WORK Medical Technology Group makes up about 0.2% of Sabby Management LLC’s holdings, making the stock its 18th largest holding. Sabby Management LLC owned about 590.89% of WORK Medical Technology Group as of its most recent filing with the Securities & Exchange Commission.

About WORK Medical Technology Group

WORK Medical Technology Group Ltd. engages in developing health instruments. It manufactures and sells medical devices, including endotracheal tubes, laryngeal mask airways, heat and moisture exchanging filters, disposable breathing circuits, nebulizer kits, and yankauer suction sets. The company was founded on March 1, 2022 and is headquartered in Hangzhou, China.