Taoping Inc. (NASDAQ:TAOP) Sees Significant Increase in Short Interest

Taoping Inc. (NASDAQ:TAOP) was the recipient of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 79,660 shares, a growth of 202.3% from the July 30th total of 26,352 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average trading volume of 770,573 shares, the short-interest ratio is currently 0.1 days.

Taoping Stock Performance

NASDAQ:TAOP traded up $0.16 on Thursday, reaching $1.12. 105,997 shares of the company’s stock were exchanged, compared to its average volume of 448,234. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.30. Taoping has a 52-week low of $0.52 and a 52-week high of $3.99. The business has a fifty day moving average of $1.10 and a 200-day moving average of $1.27.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Taoping in a report on Friday, August 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

About Taoping

Taoping Inc provides cloud-based platform, resource sharing, and big data solutions to the Chinese new media, education residential community management, and elevator Internet of Things (IoT) industries in the People's Republic of China. It operates through Cloud-Based Technology and Traditional Information Technology segments. The company offers cloud-based software as a service to automate the interactive workflows between advertising agencies and their customers, including establishing new advertising projects, submitting advertisement proposals, revising and approving advertising proposals, processing payment online, remotely uploading advertisement content, and tracking and analyzing performance data.