WORK Medical Technology Group LTD (NASDAQ:WOK) Sees Significant Decline in Short Interest

WORK Medical Technology Group LTD (NASDAQ:WOK) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 52,511 shares, a drop of 87.7% from the June 15th total of 428,056 shares. Based on an average trading volume of 1,482,384 shares, the short-interest ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of WORK Medical Technology Group in a research report on Friday, May 1st. Wall Street Zen upgraded shares of WORK Medical Technology Group to a “sell” rating in a report on Saturday, June 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, WORK Medical Technology Group presently has an average rating of “Sell”.

WORK Medical Technology Group Stock Up 13.9%

NASDAQ:WOK traded up $0.28 on Friday, reaching $2.30. 13,825,919 shares of the stock traded hands, compared to its average volume of 1,188,127. WORK Medical Technology Group has a 12 month low of $1.78 and a 12 month high of $930,000.00. The company’s fifty day simple moving average is $49.92 and its 200 day simple moving average is $127.25.

Insider Activity

In other news, major shareholder Financial Lp Hrt bought 880,456 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was bought at an average cost of $0.05 per share, for a total transaction of $44,022.80. Following the completion of the acquisition, the insider owned 1,271,912 shares in the company, valued at approximately $63,595.60. This trade represents a 224.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have bought 960,133 shares of company stock valued at $957,353 and have sold 180,440 shares valued at $984,223.

Institutional Investors Weigh In On WORK Medical Technology Group

A hedge fund recently bought a new stake in WORK Medical Technology Group stock. Sabby Management LLC purchased a new position in shares of WORK Medical Technology Group LTD (NASDAQ:WOK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,724,004 shares of the company’s stock, valued at approximately $204,000. WORK Medical Technology Group comprises approximately 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th biggest holding. Sabby Management LLC owned approximately 590.89% of WORK Medical Technology Group as of its most recent filing with the Securities and Exchange Commission.

About WORK Medical Technology Group

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.