Short Interest in TaoWeave, Inc. (NASDAQ:TWAV) Declines By 69.2%

TaoWeave, Inc. (NASDAQ:TWAV) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 19,486 shares, a decrease of 69.2% from the June 30th total of 63,253 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 67,963 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On TaoWeave

Several hedge funds and other institutional investors have recently modified their holdings of TWAV. XTX Topco Ltd purchased a new position in shares of TaoWeave in the 4th quarter worth $30,000. Boothbay Fund Management LLC purchased a new stake in TaoWeave during the fourth quarter valued at $85,000. Renaissance Technologies LLC bought a new position in TaoWeave in the fourth quarter valued at about $131,000. Citadel Advisors LLC purchased a new position in TaoWeave in the third quarter worth about $56,000. Finally, Virtu Financial LLC purchased a new position in TaoWeave in the third quarter worth about $39,000. 1.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

TaoWeave Stock Performance

TWAV opened at $1.25 on Friday. TaoWeave has a 52-week low of $0.58 and a 52-week high of $4.65. The company’s 50-day simple moving average is $1.43 and its two-hundred day simple moving average is $1.48. The stock has a market capitalization of $4.33 million, a P/E ratio of -1.10 and a beta of 2.50.

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.