TaoWeave (NASDAQ:TWAV) Issues Quarterly Earnings Results

TaoWeave (NASDAQ:TWAV) posted its earnings results on Friday. The company reported ($0.84) earnings per share (EPS) for the quarter, Zacks reports. TaoWeave had a negative net margin of 158.05% and a negative return on equity of 62.58%.

TaoWeave Trading Down 8.6%

NASDAQ TWAV traded down $0.12 on Friday, hitting $1.28. 17,965 shares of the company’s stock traded hands, compared to its average volume of 672,738. TaoWeave has a 1-year low of $0.58 and a 1-year high of $3.89. The firm has a market capitalization of $4.43 million, a PE ratio of -1.12 and a beta of 2.52. The firm’s 50-day moving average price is $1.38 and its two-hundred day moving average price is $1.42.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of TaoWeave in a research note on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On TaoWeave

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in shares of TaoWeave in the 4th quarter valued at about $131,000. Boothbay Fund Management LLC acquired a new stake in TaoWeave during the third quarter worth about $120,000. Two Sigma Investments LP purchased a new position in TaoWeave during the third quarter valued at approximately $58,000. Citadel Advisors LLC purchased a new position in shares of TaoWeave during the 3rd quarter valued at approximately $56,000. Finally, XTX Topco Ltd purchased a new stake in shares of TaoWeave during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 1.98% of the company’s stock.

About TaoWeave

Oblong Inc, together with its subsidiaries, provides multi-stream collaboration technologies and managed services for video collaboration and network applications in the United States and internationally. The company operates in two segments, Collaboration Products and Managed Services. Its flagship product is Mezzanine that enables visual collaboration across multi-users, multi-screens, multi-devices, and multi-locations for video telepresence, laptop and application sharing, and whiteboard sharing and slides applications.