WORK Medical Technology Group LTD (NASDAQ:WOK) Short Interest Up 262.8% in June

WORK Medical Technology Group LTD (NASDAQ:WOK) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 428,056 shares, a growth of 262.8% from the May 31st total of 117,997 shares. Based on an average daily volume of 156,294,998 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of WORK Medical Technology Group to a “sell” rating in a research report on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of WORK Medical Technology Group in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Insider Buying and Selling at WORK Medical Technology Group

In related news, major shareholder Financial Lp Hrt acquired 880,456 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were bought at an average price of $0.05 per share, for a total transaction of $44,022.80. Following the completion of the transaction, the insider directly owned 1,271,912 shares in the company, valued at approximately $63,595.60. This trade represents a 224.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have purchased 960,133 shares of company stock worth $957,353 and have sold 180,440 shares worth $984,223.

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 bought a new stake in shares of WORK Medical Technology Group LTD (NASDAQ:WOK) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 holdings, making the stock its 18th biggest holding. Sabby Management LLC owned approximately 590.89% of WORK Medical Technology Group at the end of the most recent quarter.

WORK Medical Technology Group Stock Performance

WORK Medical Technology Group stock opened at $2.22 on Friday. The business has a 50-day simple moving average of $73.26 and a two-hundred day simple moving average of $1,262.37. WORK Medical Technology Group has a 52-week low of $1.78 and a 52-week high of $930,000.00.

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.