TaoWeave (NASDAQ:TWAV) Issues Quarterly Earnings Results

TaoWeave (NASDAQ:TWAV) posted its quarterly earnings data on Friday. The company reported ($0.02) earnings per share (EPS) for the quarter, Zacks reports. TaoWeave had a negative net margin of 260.77% and a negative return on equity of 80.80%.

TaoWeave Stock Performance

Shares of NASDAQ:TWAV traded down $0.06 during trading hours on Friday, reaching $1.46. The stock had a trading volume of 78,003 shares, compared to its average volume of 63,442. TaoWeave has a 1 year low of $0.58 and a 1 year high of $5.50. The stock has a market capitalization of $4.86 million, a price-to-earnings ratio of -0.85 and a beta of 2.61. The firm’s 50 day moving average is $1.56 and its 200-day moving average is $1.77.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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, TaoWeave has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new position in shares of TaoWeave in the 3rd quarter valued at approximately $58,000. Virtu Financial LLC purchased a new stake in TaoWeave during the third quarter worth about $39,000. Boothbay Fund Management LLC purchased a new stake in TaoWeave during the third quarter worth about $120,000. Citadel Advisors LLC purchased a new stake in TaoWeave during the third quarter worth $56,000. Finally, Renaissance Technologies LLC purchased a new stake in TaoWeave during the fourth quarter worth $131,000. Hedge funds and other institutional investors own 1.98% of the company’s stock.

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.