Short Interest in TaoWeave, Inc. (NASDAQ:TWAV) Rises By 133.5%

TaoWeave, Inc. (NASDAQ:TWAV) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 73,911 shares, a growth of 133.5% from the May 14th total of 31,656 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 221,489 shares, the short-interest ratio is presently 0.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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.com, the stock currently has a consensus rating of “Sell”.

TaoWeave Trading Down 6.3%

TWAV stock opened at $1.63 on Friday. TaoWeave has a twelve month low of $0.58 and a twelve month high of $5.50. The company’s 50 day moving average is $1.63 and its two-hundred day moving average is $1.65. The stock has a market cap of $5.64 million, a P/E ratio of -1.43 and a beta of 2.52.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in shares of TaoWeave during the 4th quarter valued at about $131,000. Boothbay Fund Management LLC purchased a new position in TaoWeave in the 3rd quarter worth approximately $120,000. Two Sigma Investments LP purchased a new position in shares of TaoWeave during the 3rd quarter valued at approximately $58,000. Citadel Advisors LLC acquired a new stake in shares of TaoWeave during the 3rd quarter valued at approximately $56,000. Finally, XTX Topco Ltd acquired a new stake in shares of TaoWeave during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 1.98% of the company’s stock.

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.