Wearable Devices (NASDAQ:WLDS) Shares Down 7.2% – What’s Next?

Wearable Devices Ltd. (NASDAQ:WLDS)’s share price dropped 7.2% during mid-day trading on Monday . The stock traded as low as $0.7720 and last traded at $0.7765. Approximately 149,222 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 242,281 shares. The stock had previously closed at $0.8369.

Wall Street Analyst Weigh In

WLDS has been the topic of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Wearable Devices in a report on Friday, March 27th. 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 equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Wearable Devices Stock Down 7.2%

The company’s fifty day moving average price is $1.12 and its two-hundred day moving average price is $2.61.

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 Wearable Devices Ltd. (NASDAQ:WLDS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned about 6.31% of Wearable Devices as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.