TaoWeave, Inc. (NASDAQ:TWAV) Short Interest Down 69.0% in June

TaoWeave, Inc. (NASDAQ:TWAV) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 63,253 shares, a decline of 69.0% from the June 15th total of 204,158 shares. Based on an average trading volume of 163,360 shares, the days-to-cover ratio is currently 0.4 days. Approximately 1.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

TaoWeave Trading Down 5.9%

Shares of TWAV opened at $1.28 on Tuesday. TaoWeave has a twelve month low of $0.58 and a twelve month high of $5.50. The company has a market cap of $4.43 million, a P/E ratio of -1.12 and a beta of 2.50. The company’s fifty day simple moving average is $1.51 and its 200-day simple moving average is $1.53.

Institutional Trading of TaoWeave

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in TaoWeave in the fourth quarter worth about $131,000. Boothbay Fund Management LLC bought a new position in shares of TaoWeave during the third quarter valued at approximately $120,000. Two Sigma Investments LP purchased a new stake in shares of TaoWeave in the third quarter worth approximately $58,000. Citadel Advisors LLC purchased a new stake in shares of TaoWeave in the third quarter worth approximately $56,000. Finally, XTX Topco Ltd bought a new stake in shares of TaoWeave during the 4th quarter worth approximately $30,000. 1.98% of the stock is owned by hedge funds and other institutional investors.

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.