Short Interest in TaoWeave, Inc. (NASDAQ:TWAV) Grows By 133.5%

TaoWeave, Inc. (NASDAQ:TWAV) saw a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 73,911 shares, an increase of 133.5% from the May 14th total of 31,656 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily volume of 221,489 shares, the days-to-cover ratio is presently 0.3 days.

TaoWeave Stock Performance

Shares of TWAV stock traded down $0.11 during mid-day trading on Friday, hitting $1.63. 179,011 shares of the stock were exchanged, compared to its average volume of 3,565,503. The stock’s fifty day simple moving average is $1.63 and its two-hundred day simple moving average is $1.65. The stock has a market capitalization of $5.63 million, a price-to-earnings ratio of -1.43 and a beta of 2.52. TaoWeave has a 12-month low of $0.58 and a 12-month high of $5.50.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TaoWeave in a report on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, TaoWeave currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On TaoWeave

A number of hedge funds and other institutional investors have recently made changes to their positions in TWAV. XTX Topco Ltd purchased a new position in shares of TaoWeave during the fourth quarter worth about $30,000. Virtu Financial LLC purchased a new position in shares of TaoWeave during the third quarter worth about $39,000. Fifth Lane Capital LP purchased a new position in shares of TaoWeave during the third quarter worth about $40,000. Citadel Advisors LLC purchased a new position in shares of TaoWeave during the third quarter worth about $56,000. Finally, Two Sigma Investments LP purchased a new position in shares of TaoWeave during the third quarter worth about $58,000. Hedge funds and other institutional investors own 1.98% of the company’s stock.

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.