TaoWeave (NASDAQ:TWAV) Posts Earnings Results

TaoWeave (NASDAQ:TWAV) issued its quarterly earnings results on Friday. The company reported ($0.84) earnings per share (EPS) for the quarter, Zacks reports. TaoWeave had a negative return on equity of 62.58% and a negative net margin of 158.05%.The business had revenue of $0.52 million for the quarter.

TaoWeave Stock Performance

NASDAQ TWAV opened at $1.28 on Friday. The firm has a market capitalization of $4.43 million, a P/E ratio of -1.12 and a beta of 2.52. TaoWeave has a fifty-two week low of $0.58 and a fifty-two week high of $3.89. The stock has a 50-day simple moving average of $1.38 and a two-hundred day simple moving average of $1.42.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of TaoWeave in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Two Sigma Investments LP purchased a new position in shares of TaoWeave in the third quarter valued at approximately $58,000. Virtu Financial LLC acquired a new stake in TaoWeave during the 3rd quarter worth $39,000. Boothbay Fund Management LLC purchased a new stake in shares of TaoWeave during the third quarter worth $120,000. Citadel Advisors LLC purchased a new stake in TaoWeave during the 3rd quarter valued at about $56,000. Finally, Renaissance Technologies LLC acquired a new stake in TaoWeave in the 4th quarter valued at about $131,000. 1.98% of the stock is owned by institutional investors and hedge funds.

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.