TaoWeave (NASDAQ:TWAV) Posts Earnings Results

TaoWeave (NASDAQ:TWAV) announced its earnings results on Friday. The company reported ($0.84) earnings per share (EPS) for the quarter, Zacks reports. TaoWeave had a negative net margin of 158.05% and a negative return on equity of 62.58%.

TaoWeave Price Performance

Shares of TWAV stock traded down $0.12 during trading hours on Friday, reaching $1.28. 17,965 shares of the company traded hands, compared to its average volume of 672,738. The firm has a 50-day moving average price of $1.38 and a 200 day moving average price of $1.42. The company has a market cap of $4.43 million, a P/E ratio of -1.12 and a beta of 2.52. TaoWeave has a 12-month low of $0.58 and a 12-month high of $3.89.

Institutional Investors Weigh In On TaoWeave

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new position in TaoWeave during the third quarter valued at approximately $58,000. Virtu Financial LLC purchased a new stake in shares of TaoWeave in the third quarter worth $39,000. Boothbay Fund Management LLC purchased a new stake in shares of TaoWeave in the third quarter worth $120,000. Citadel Advisors LLC bought a new stake in shares of TaoWeave during the 3rd quarter valued at $56,000. Finally, Renaissance Technologies LLC bought a new stake in shares of TaoWeave during the 4th quarter valued at $131,000. Institutional investors own 1.98% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of TaoWeave in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

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.