Short Interest in Taoping Inc. (NASDAQ:TAOP) Decreases By 78.5%

Taoping Inc. (NASDAQ:TAOP) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 17,113 shares, a drop of 78.5% from the August 15th total of 79,660 shares. Based on an average daily volume of 70,989 shares, the short-interest ratio is currently 0.2 days. Approximately 0.3% of the company’s stock are sold short.

Taoping Stock Performance

Shares of TAOP opened at $0.74 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.87 and a quick ratio of 1.82. The firm has a 50 day moving average of $0.97 and a 200 day moving average of $1.23. Taoping has a twelve month low of $0.52 and a twelve month high of $3.57.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Taoping in a research note on Friday, August 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Taoping currently has a consensus rating of “Sell”.

Taoping Company Profile

Taoping Inc provides cloud-based platform, resource sharing, and big data solutions to the Chinese new media, education residential community management, and elevator Internet of Things (IoT) industries in the People's Republic of China. It operates through Cloud-Based Technology and Traditional Information Technology segments. The company offers cloud-based software as a service to automate the interactive workflows between advertising agencies and their customers, including establishing new advertising projects, submitting advertisement proposals, revising and approving advertising proposals, processing payment online, remotely uploading advertisement content, and tracking and analyzing performance data.