TaoWeave, Inc. (NASDAQ:TWAV) Sees Large Decrease in Short Interest

TaoWeave, Inc. (NASDAQ:TWAV) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 31,656 shares, a drop of 72.3% from the April 30th total of 114,188 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 413,734 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of TaoWeave in a research note on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On TaoWeave

Several large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in TaoWeave in the 4th quarter valued at about $30,000. Boothbay Fund Management LLC bought a new position in TaoWeave in the 4th quarter valued at about $85,000. Renaissance Technologies LLC bought a new position in TaoWeave in the 4th quarter valued at about $131,000. Citadel Advisors LLC bought a new position in TaoWeave in the 3rd quarter valued at about $56,000. Finally, Virtu Financial LLC bought a new position in TaoWeave in the 3rd quarter valued at about $39,000. Institutional investors own 1.98% of the company’s stock.

TaoWeave Stock Performance

Shares of NASDAQ TWAV opened at $1.38 on Friday. TaoWeave has a fifty-two week low of $0.58 and a fifty-two week high of $5.50. The stock has a market cap of $4.77 million, a price-to-earnings ratio of -1.21 and a beta of 2.61. The firm’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $1.68.

TaoWeave (NASDAQ:TWAV) last announced its quarterly earnings results on Friday, March 20th. The company reported ($1.00) earnings per share for the quarter. TaoWeave had a negative net margin of 158.05% and a negative return on equity of 62.58%. The business had revenue of $0.62 million during the quarter.

TaoWeave Company Profile

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.