TaoWeave (NASDAQ:TWAV) Releases Quarterly Earnings Results

TaoWeave (NASDAQ:TWAV) announced its quarterly earnings data on Friday. The company reported ($0.02) earnings per share (EPS) for the quarter, Zacks reports. TaoWeave had a negative net margin of 260.77% and a negative return on equity of 80.80%.

TaoWeave Price Performance

TWAV stock traded down $0.06 on Friday, hitting $1.46. 78,003 shares of the company were exchanged, compared to its average volume of 63,442. TaoWeave has a twelve month low of $0.58 and a twelve month high of $5.50. The business’s fifty day moving average is $1.56 and its two-hundred day moving average is $1.77. The stock has a market capitalization of $4.86 million, a price-to-earnings ratio of -0.85 and a beta of 2.61.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On TaoWeave

Several institutional investors and hedge funds have recently bought and sold shares of TWAV. Renaissance Technologies LLC acquired a new position in TaoWeave during the fourth quarter worth approximately $131,000. Boothbay Fund Management LLC acquired a new position in TaoWeave during the third quarter worth approximately $120,000. Two Sigma Investments LP acquired a new position in TaoWeave during the third quarter worth approximately $58,000. Citadel Advisors LLC acquired a new position in TaoWeave during the third quarter worth approximately $56,000. Finally, XTX Topco Ltd acquired a new position in TaoWeave during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 1.98% of the company’s stock.

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.