Short Interest in WORK Medical Technology Group LTD (NASDAQ:WOK) Declines By 74.5%

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of WORK Medical Technology Group in a research report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Insider Activity at WORK Medical Technology Group

In other WORK Medical Technology Group news, major shareholder Financial Lp Hrt acquired 2,261,118 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were acquired at an average price of $0.11 per share, with a total value of $248,722.98. Following the completion of the transaction, the insider directly owned 2,647,299 shares in the company, valued at $291,202.89. This trade represents a 585.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 7,967,837 shares of company stock valued at $913,344 over the last 90 days.

Hedge Funds Weigh In On WORK Medical Technology Group

An institutional investor recently bought a new position in WORK Medical Technology Group stock. Sabby Management LLC acquired a new stake in WORK Medical Technology Group LTD (NASDAQ:WOK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 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 investment portfolio, making the stock its 18th largest position. Sabby Management LLC owned 590.89% of WORK Medical Technology Group at the end of the most recent quarter.

WORK Medical Technology Group Price Performance

WOK traded down $0.01 during trading on Thursday, reaching $0.09. 29,885,738 shares of the stock were exchanged, compared to its average volume of 28,188,285. WORK Medical Technology Group has a twelve month low of $0.08 and a twelve month high of $9,300.00. The stock’s 50 day moving average price is $1.00 and its two-hundred day moving average price is $54.26.

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.