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

TaoWeave, Inc. (NASDAQ:TWAV) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 63,253 shares, a decline of 69.0% from the June 15th total of 204,158 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average trading volume of 163,360 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

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

TaoWeave Price Performance

NASDAQ:TWAV remained flat at $1.36 during trading hours on Friday. The company had a trading volume of 69,724 shares, compared to its average volume of 123,780. The firm has a fifty day moving average of $1.52 and a 200 day moving average of $1.53. TaoWeave has a 1-year low of $0.58 and a 1-year high of $5.50. The firm has a market capitalization of $4.71 million, a P/E ratio of -1.19 and a beta of 2.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TWAV. XTX Topco Ltd bought a new stake in TaoWeave during the fourth quarter worth 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 acquired a new position in shares of TaoWeave in the 4th quarter valued at approximately $131,000. Citadel Advisors LLC acquired a new position in shares of TaoWeave in the 3rd quarter valued at approximately $56,000. Finally, Virtu Financial LLC bought a new stake in shares of TaoWeave during the 3rd quarter worth approximately $39,000. 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.