The arrival of Joe Mason at the Reebok Stadium looked to have signalled the departure of Davies, but Wolves head coach Kenny Jackett has revealed that he is unlikely to add to his squad before the January transfer window.
The 51-year-old told the Express & Star: "There are no signings likely to happen for us in terms of players coming in before the loan window closes this afternoon.
"We now want to make sure that we keep the players fit and available and hungry to play for the club because we're in a good position.
"Whether there will be anyone going out on loan, we will have to see how the day progresses."
Wolves are currently top of the League One table.