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

TaoWeave, Inc. (NASDAQ:TWAV) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totaling 31,656 shares, a drop of 72.3% from the April 30th total of 114,188 shares. Based on an average daily trading volume, of 413,734 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.9% of the shares of the company are short sold.

TaoWeave Stock Down 2.8%

TaoWeave stock opened at $1.38 on Friday. TaoWeave has a 52 week low of $0.58 and a 52 week high of $5.50. The company’s 50 day moving average price is $1.63 and its two-hundred day moving average price is $1.68. The stock has a market cap of $4.77 million, a P/E ratio of -1.21 and a beta of 2.61.

TaoWeave (NASDAQ:TWAV) last posted its earnings results on Friday, March 20th. The company reported ($1.00) EPS for the quarter. TaoWeave had a negative return on equity of 62.58% and a negative net margin of 158.05%.The firm had revenue of $0.62 million for the quarter.

Institutional Investors Weigh In On TaoWeave

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of TaoWeave in the 3rd quarter worth approximately $39,000. Fifth Lane Capital LP bought a new stake in shares of TaoWeave in the 3rd quarter worth approximately $40,000. XTX Topco Ltd bought a new stake in shares of TaoWeave in the 4th quarter worth approximately $30,000. Citadel Advisors LLC bought a new stake in shares of TaoWeave in the 3rd quarter worth approximately $56,000. Finally, Two Sigma Investments LP bought a new stake in shares of TaoWeave in the 3rd quarter worth approximately $58,000. Institutional investors own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.