Wearable Devices Ltd. Sees 82.5% Drop in Short Interest
Wearable Devices Ltd. (NASDAQ: WLDS) experienced a significant decrease in short interest during August 2023. As of August 31, the short interest totaled 10,300 shares, representing a sharp decline of **82.5%** from the 58,700 shares recorded on August 15. This reduction indicates that only **1.1%** of the company’s stock is currently sold short, reflecting a notable shift in investor sentiment.
The average daily trading volume for Wearable Devices stands at **5,320,000** shares, which results in a days-to-cover ratio of **0.0 days**. This metric suggests that the volume of shares readily available for trading greatly exceeds the number currently sold short, further emphasizing the reduced bearish outlook on the stock.
Analyst Insights on Wearable Devices
Adding to the company’s challenges, Wall Street Zen downgraded Wearable Devices to a “strong sell” rating in a report dated **May 30, 2023**. This downgrade indicates a cautious view among analysts regarding the company’s future performance, which could influence investor decisions in the coming months.
About Wearable Devices Ltd.
Wearable Devices Ltd. is engaged in developing innovative technology that enables the control of digital devices through non-invasive neural input interfaces. Their product lineup includes the **Mudra** development kits, which allow users to operate various digital devices—ranging from consumer electronics to smartwatches, smartphones, augmented reality (AR) glasses, and even drones—by using subtle finger movements and hand gestures.
The company also provides the **SNC sensor module**, which comprises an operating system software package and algorithm package tailored for their clients. This technology showcases Wearable Devices’ commitment to pioneering advancements in user interface solutions.
Investors and interested parties can stay updated on Wearable Devices through MarketBeat.com, which offers daily summaries of the latest news and analyst ratings for the company and related entities.
