TaoWeave, Inc. (NASDAQ:TWAV) Short Interest Up 176.2% in June

TaoWeave, Inc. (NASDAQ:TWAV) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 204,158 shares, a growth of 176.2% from the May 31st total of 73,911 shares. Based on an average daily trading volume, of 5,863,542 shares, the short-interest ratio is presently 0.0 days. Currently, 6.1% of the shares of the company are sold short.

Institutional Trading of TaoWeave

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

Analysts Set New Price Targets

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

TaoWeave Stock Up 0.7%

Shares of TaoWeave stock traded up $0.01 on Tuesday, reaching $1.32. 69,666 shares of the stock were exchanged, compared to its average volume of 807,548. The business has a 50 day moving average price of $1.58 and a two-hundred day moving average price of $1.59. The firm has a market capitalization of $4.57 million, a price-to-earnings ratio of -1.16 and a beta of 2.53. TaoWeave has a twelve month low of $0.58 and a twelve month high of $5.50.

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.