Short Interest in TaoWeave, Inc. (NASDAQ:TWAV) Decreases By 72.3%

TaoWeave, Inc. (NASDAQ:TWAV) saw 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 short-interest ratio is currently 0.1 days. Approximately 0.9% of the company’s stock are sold short.

Institutional Trading of TaoWeave

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in TaoWeave during the 3rd quarter valued at $39,000. Fifth Lane Capital LP purchased a new position in shares of TaoWeave in the 3rd quarter worth $40,000. XTX Topco Ltd purchased a new position in shares of TaoWeave in the 4th quarter worth $30,000. Citadel Advisors LLC purchased a new position in shares of TaoWeave in the 3rd quarter worth $56,000. Finally, Two Sigma Investments LP purchased a new position in shares of TaoWeave in the 3rd quarter worth $58,000. 1.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 MarketBeat, the stock currently has an average rating of “Sell”.

TaoWeave Trading Down 1.4%

TWAV traded down $0.02 during trading on Friday, hitting $1.36. 57,017 shares of the company’s stock traded hands, compared to its average volume of 329,250. The company’s 50 day simple moving average is $1.63 and its two-hundred day simple moving average is $1.68. TaoWeave has a 12-month low of $0.58 and a 12-month high of $5.50. The stock has a market capitalization of $4.71 million, a price-to-earnings ratio of -1.19 and a beta of 2.61.

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

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.