Movano Inc. (NASDAQ:MOVE) Sees Large Increase in Short Interest

Movano Inc. (NASDAQ:MOVE) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 44,800 shares, a growth of 45.0% from the January 15th total of 30,900 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 37,300 shares, the days-to-cover ratio is currently 1.2 days.

Movano Stock Down 0.2 %

Shares of Movano stock traded down $0.01 during trading hours on Friday, reaching $5.13. 1,639 shares of the stock traded hands, compared to its average volume of 7,419. Movano has a one year low of $2.80 and a one year high of $11.25. The firm has a market capitalization of $34.01 million, a price-to-earnings ratio of -1.00 and a beta of 0.53. The company has a 50 day moving average price of $5.55 and a 200 day moving average price of $5.07.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MOVE. Y Intercept Hong Kong Ltd bought a new position in shares of Movano during the 3rd quarter valued at approximately $55,000. Geode Capital Management LLC grew its position in Movano by 22.2% in the 3rd quarter. Geode Capital Management LLC now owns 766,716 shares of the technology company’s stock valued at $275,000 after acquiring an additional 139,420 shares during the last quarter. Finally, Clayton Partners LLC bought a new position in shares of Movano during the 4th quarter worth $609,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

About Movano

Movano Inc engages in developing a platform to deliver healthcare solutions at the intersection of medical and consumer devices. The company is involved in the development of Evie Ring, which is a wearable designed specifically for women that combines health and wellness metrics comprises resting heart rate, heart rate variability (HRV), blood oxygen saturation (SpO2), respiration rate, skin temperature variability, period and ovulation tracking, and menstrual symptom tracking, as well as activity profile, including steps, active minutes and calories burned, sleep stages and duration, and mood tracking.