Wearable Devices (NASDAQ:WLDS) Trading 0.6% Higher – Should You Buy?

Wearable Devices Ltd. (NASDAQ:WLDS) shot up 0.6% on Thursday . The company traded as high as $1.6498 and last traded at $1.58. Approximately 45,491 shares were traded during trading, The stock had previously closed at $1.57.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WLDS. Wall Street Zen raised shares of Wearable Devices from a “strong sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Wearable Devices in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Wearable Devices Trading Up 0.6%

The firm’s 50-day moving average price is $2.40 and its 200 day moving average price is $5.54.

Institutional Investors Weigh In On Wearable Devices

A hedge fund recently raised its stake in Wearable Devices stock. Kathmere Capital Management LLC raised its stake in Wearable Devices Ltd. (NASDAQ:WLDS) by 42.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 191,300 shares of the company’s stock after purchasing an additional 56,800 shares during the period. Kathmere Capital Management LLC owned 3.21% of Wearable Devices worth $218,000 as of its most recent SEC filing. 0.24% of the stock is owned by institutional investors and hedge funds.

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.