Wearable Devices (NASDAQ:WLDS) Stock Price Up 16.4% – Still a Buy?

Wearable Devices Ltd. (NASDAQ:WLDS) shot up 16.4% during mid-day trading on Monday . The company traded as high as $3.33 and last traded at $2.98. 983,023 shares were traded during trading, The stock had previously closed at $2.56.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wearable Devices in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Wearable Devices Price Performance

The firm has a 50-day moving average of $2.18 and a two-hundred day moving average of $4.45.

Hedge Funds Weigh In On Wearable Devices

An institutional investor recently bought a new position 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 filing with the SEC. The fund 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 filing with the SEC. 0.24% of the stock is currently 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.