Short Interest in Wearable Devices Ltd. (NASDAQ:WLDS) Declines By 37.4%

Wearable Devices Ltd. (NASDAQ:WLDS) saw a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 197,761 shares, a decrease of 37.4% from the May 14th total of 315,814 shares. Approximately 5.6% of the company’s stock are short sold. Based on an average daily volume of 305,823 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On Wearable Devices

A hedge fund recently bought a new stake in Wearable Devices stock. Armistice Capital LLC bought a new position in shares of Wearable Devices Ltd. (NASDAQ:WLDS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned 6.31% of Wearable Devices as of its most recent SEC filing. 0.24% of the stock is owned by hedge funds and other institutional investors.

Wearable Devices Price Performance

Shares of NASDAQ WLDS opened at $0.78 on Monday. The business has a 50 day simple moving average of $1.07 and a 200 day simple moving average of $2.47. Wearable Devices has a 52 week low of $0.73 and a 52 week high of $34.20.

Wall Street Analyst Weigh In

WLDS has been the topic of a number of research reports. Wall Street Zen upgraded Wearable Devices from a “strong sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Wearable Devices in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.