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

TaoWeave, Inc. (NASDAQ:TWAV) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 39,153 shares, an increase of 100.9% from the July 15th total of 19,486 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 56,668 shares, the short-interest ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of TaoWeave in a research report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, TaoWeave presently has a consensus rating of “Sell”.

TaoWeave Trading Down 4.5%

Shares of TWAV stock opened at $1.27 on Friday. TaoWeave has a 12-month low of $0.58 and a 12-month high of $3.68. The stock’s 50-day moving average price is $1.36 and its 200-day moving average price is $1.40. The stock has a market capitalization of $4.93 million, a price-to-earnings ratio of -0.79 and a beta of 2.52.

TaoWeave (NASDAQ:TWAV) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.84) EPS for the quarter. The firm had revenue of $0.52 million for the quarter. TaoWeave had a negative net margin of 272.06% and a negative return on equity of 108.74%.

Institutional Inflows and Outflows

A number of 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 fourth quarter valued at $30,000. Virtu Financial LLC bought a new position in TaoWeave during the third quarter valued at $39,000. Citadel Advisors LLC bought a new position in TaoWeave during the third quarter valued at $56,000. Two Sigma Investments LP purchased a new position in shares of TaoWeave in the 3rd quarter worth $58,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of TaoWeave in the 4th quarter worth $85,000. 1.98% of the stock is currently owned by institutional investors.

About TaoWeave

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.