WORK Medical Technology Group LTD (NASDAQ:WOK) Short Interest Update

WORK Medical Technology Group LTD (NASDAQ:WOK) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 117,997 shares, a decrease of 74.5% from the May 14th total of 462,339 shares. Based on an average daily trading volume, of 116,523,069 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1,180.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of WORK Medical Technology Group in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

WORK Medical Technology Group Stock Performance

Shares of WOK traded down $0.02 during mid-day trading on Friday, reaching $0.08. 49,868,834 shares of the company’s stock traded hands, compared to its average volume of 28,467,820. WORK Medical Technology Group has a 12 month low of $0.06 and a 12 month high of $9,300.00. The business’s 50-day moving average price is $0.98 and its 200-day moving average price is $51.52.

Insiders Place Their Bets

In other WORK Medical Technology Group news, major shareholder Financial Lp Hrt bought 2,746,332 shares of WORK Medical Technology Group stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $0.14 per share, for a total transaction of $384,486.48. Following the completion of the transaction, the insider owned 351,959 shares of the company’s stock, valued at $49,274.26. This represents a -114.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 7,967,837 shares of company stock worth $913,344 in the last quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in WORK Medical Technology Group stock. Sabby Management LLC acquired a new stake in shares of WORK Medical Technology Group LTD (NASDAQ:WOK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,724,004 shares of the company’s stock, valued at approximately $204,000. WORK Medical Technology Group accounts for 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th biggest position. Sabby Management LLC owned about 590.89% of WORK Medical Technology Group at the end of the most recent reporting period.

WORK Medical Technology Group Company Profile

WORK Medical Technology Group Ltd. engages in developing health instruments. It manufactures and sells medical devices, including endotracheal tubes, laryngeal mask airways, heat and moisture exchanging filters, disposable breathing circuits, nebulizer kits, and yankauer suction sets. The company was founded on March 1, 2022 and is headquartered in Hangzhou, China.