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

TaoWeave, Inc. (NASDAQ:TWAV) was the target of a large increase in short interest in 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. Based on an average daily volume of 221,489 shares, the days-to-cover ratio is presently 0.3 days. Approximately 2.2% of the company’s stock are sold short.

Hedge Funds Weigh In On TaoWeave

Large investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in TaoWeave during the fourth quarter worth $30,000. Boothbay Fund Management LLC acquired a new stake in shares of TaoWeave in the fourth quarter valued at about $85,000. Renaissance Technologies LLC acquired a new stake in shares of TaoWeave in the fourth quarter valued at about $131,000. Citadel Advisors LLC acquired a new stake in shares of TaoWeave in the third quarter valued at about $56,000. Finally, Virtu Financial LLC acquired a new stake in shares of TaoWeave in the third quarter valued at about $39,000. 1.98% of the stock is currently owned by institutional investors and hedge funds.

TaoWeave Price Performance

TWAV stock opened at $1.63 on Friday. The firm’s fifty day simple moving average is $1.63 and its 200-day simple moving average is $1.65. The company has a market capitalization of $5.64 million, a P/E 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 released its quarterly earnings data on Friday, March 20th. The company reported ($1.00) EPS for the quarter. TaoWeave had a negative net margin of 158.05% and a negative return on equity of 62.58%. The business had revenue of $0.62 million during the quarter.

Wall Street Analysts Forecast Growth

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