TaoWeave, Inc. (NASDAQ:TWAV) Short Interest Down 75.8% in August

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

TaoWeave Price Performance

Shares of NASDAQ TWAV opened at $1.35 on Friday. The stock has a market capitalization of $5.24 million, a price-to-earnings ratio of -0.84 and a beta of 2.52. The business has a 50-day moving average of $1.31 and a 200-day moving average of $1.38. TaoWeave has a fifty-two week low of $0.58 and a fifty-two week high of $3.21.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TaoWeave in a research report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On TaoWeave

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new position in TaoWeave during the third quarter worth about $39,000. XTX Topco Ltd bought a new stake in TaoWeave in the 4th quarter valued at $30,000. Citadel Advisors LLC bought a new position in TaoWeave during the third quarter worth $56,000. Two Sigma Investments LP bought a new position in shares of TaoWeave in the third quarter valued at about $58,000. Finally, Boothbay Fund Management LLC bought a new position in TaoWeave in the 3rd quarter valued at about $120,000. 1.98% of the stock is owned by institutional investors.

About TaoWeave

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.