TaoWeave, Inc. (NASDAQ:TWAV) Sees Significant Decrease in Short Interest

TaoWeave, Inc. (NASDAQ:TWAV) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 63,253 shares, a drop of 69.0% from the June 15th total of 204,158 shares. Based on an average daily volume of 163,360 shares, the short-interest ratio is currently 0.4 days. Currently, 1.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TWAV. Virtu Financial LLC bought a new position in TaoWeave in the 3rd quarter valued at about $39,000. XTX Topco Ltd bought a new stake in shares of TaoWeave during the fourth quarter worth approximately $30,000. Citadel Advisors LLC acquired a new position in shares of TaoWeave in the third quarter valued at approximately $56,000. Two Sigma Investments LP acquired a new position in shares of TaoWeave in the third quarter valued at approximately $58,000. Finally, Boothbay Fund Management LLC bought a new position in shares of TaoWeave during the third quarter worth approximately $120,000. Institutional investors and hedge funds own 1.98% of the company’s stock.

TaoWeave Stock Performance

Shares of NASDAQ:TWAV remained flat at $1.36 on Friday. 69,724 shares of the company’s stock traded hands, compared to its average volume of 123,780. TaoWeave has a 12-month low of $0.58 and a 12-month high of $5.50. The company has a market cap of $4.71 million, a PE ratio of -1.19 and a beta of 2.50. The stock’s fifty day moving average is $1.52 and its 200 day moving average is $1.53.

Analyst Ratings Changes

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

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.