TaoWeave, Inc. (NASDAQ:TWAV) Short Interest Down 75.8% in August

TaoWeave, Inc. (NASDAQ:TWAV) saw a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 9,482 shares, a decline of 75.8% from the July 30th total of 39,153 shares. Based on an average daily trading volume, of 26,478 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.3% of the shares of the company are sold short.

TaoWeave Trading Down 3.6%

TWAV stock traded down $0.05 during trading on Friday, reaching $1.35. 12,447 shares of the stock were exchanged, compared to its average volume of 614,563. TaoWeave has a twelve month low of $0.58 and a twelve month high of $3.21. The company has a market capitalization of $5.24 million, a P/E ratio of -0.84 and a beta of 2.52. The stock has a 50 day simple moving average of $1.31 and a 200-day simple moving average of $1.38.

TaoWeave (NASDAQ:TWAV) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.84) EPS for the quarter. TaoWeave had a negative net margin of 272.06% and a negative return on equity of 108.74%. The firm had revenue of $0.52 million during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of TaoWeave in the 4th quarter valued at $30,000. Boothbay Fund Management LLC bought a new position in TaoWeave during the fourth quarter worth about $85,000. Renaissance Technologies LLC bought a new stake in shares of TaoWeave in the 4th quarter valued at approximately $131,000. Citadel Advisors LLC acquired a new position in shares of TaoWeave in the 3rd quarter worth approximately $56,000. Finally, Virtu Financial LLC bought a new position in shares of TaoWeave during the 3rd quarter worth approximately $39,000. 1.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of TaoWeave in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average 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.