Short Interest in Taoping Inc. (NASDAQ:TAOP) Decreases By 37.0%

Taoping Inc. (NASDAQ:TAOP) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 28,511 shares, a drop of 37.0% from the April 30th total of 45,278 shares. Based on an average daily trading volume, of 6,850 shares, the days-to-cover ratio is currently 4.2 days. Approximately 0.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Taoping from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Taoping Price Performance

TAOP stock opened at $1.27 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.87 and a quick ratio of 1.82. Taoping has a 1-year low of $1.18 and a 1-year high of $7.60. The business’s 50 day simple moving average is $1.31 and its 200 day simple moving average is $1.53.

Taoping (NASDAQ:TAOP) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($12.00) by $11.33. The firm had revenue of $5.66 million during the quarter, compared to the consensus estimate of $24.00 million.

About Taoping

Taoping Inc provides cloud-based platform, resource sharing, and big data solutions to the Chinese new media, education residential community management, and elevator Internet of Things (IoT) industries in the People's Republic of China. It operates through Cloud-Based Technology and Traditional Information Technology segments. The company offers cloud-based software as a service to automate the interactive workflows between advertising agencies and their customers, including establishing new advertising projects, submitting advertisement proposals, revising and approving advertising proposals, processing payment online, remotely uploading advertisement content, and tracking and analyzing performance data.