Wearable Devices (NASDAQ:WLDS) Trading Down 1% – Here’s Why

Shares of Wearable Devices Ltd. (NASDAQ:WLDS) fell 1% during trading on Friday . The company traded as low as $1.02 and last traded at $1.03. 115,710 shares traded hands during trading, a decline of 98% from the average session volume of 7,655,135 shares. The stock had previously closed at $1.04.

Wall Street Analyst Weigh In

A number of research firms have commented on WLDS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wearable Devices in a research report on Friday, March 27th. 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. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Wearable Devices Stock Performance

The company’s 50-day moving average is $1.53 and its two-hundred day moving average is $3.58.

Institutional Investors Weigh In On Wearable Devices

An institutional investor recently raised its position in Wearable Devices stock. Kathmere Capital Management LLC increased its position in shares of Wearable Devices Ltd. (NASDAQ:WLDS) by 42.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,300 shares of the company’s stock after purchasing an additional 56,800 shares during the quarter. Kathmere Capital Management LLC owned 3.21% of Wearable Devices worth $218,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.24% of the company’s stock.

Wearable Devices Company Profile

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.