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

TaoWeave, Inc. (NASDAQ:TWAV) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 9,482 shares, a decrease of 75.8% from the July 30th total of 39,153 shares. Based on an average daily volume of 26,478 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.3% of the company’s stock are short sold.

Institutional Trading of TaoWeave

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in TaoWeave during the 3rd quarter worth $39,000. XTX Topco Ltd bought a new stake in shares of TaoWeave in the fourth quarter worth $30,000. Citadel Advisors LLC acquired a new stake in TaoWeave in the third quarter valued at $56,000. Two Sigma Investments LP acquired a new stake in TaoWeave in the third quarter valued at $58,000. Finally, Boothbay Fund Management LLC bought a new position in TaoWeave during the 3rd quarter worth $120,000. Institutional investors and hedge funds own 1.98% of the company’s stock.

TaoWeave Price Performance

TaoWeave stock traded up $0.02 during mid-day trading on Thursday, reaching $1.40. 33,368 shares of the company were exchanged, compared to its average volume of 39,447. The company has a fifty day simple moving average of $1.32 and a 200-day simple moving average of $1.38. TaoWeave has a 12 month low of $0.58 and a 12 month high of $3.34.

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

Analyst Ratings Changes

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