TaoWeave, Inc. (NASDAQ:TWAV) Sees Large Increase in Short Interest

TaoWeave, Inc. (NASDAQ:TWAV) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 204,158 shares, a growth of 176.2% from the May 31st total of 73,911 shares. Approximately 6.1% of the company’s shares are sold short. Based on an average trading volume of 5,863,542 shares, the short-interest ratio is presently 0.0 days.

TaoWeave Stock Up 0.8%

NASDAQ TWAV traded up $0.01 during trading on Friday, reaching $1.30. 70,558 shares of the stock traded hands, compared to its average volume of 3,359,865. TaoWeave has a fifty-two week low of $0.58 and a fifty-two week high of $5.50. The firm has a market cap of $4.50 million, a price-to-earnings ratio of -1.14 and a beta of 2.52. The stock’s 50-day moving average price is $1.59 and its 200 day moving average price is $1.60.

Analyst Upgrades and Downgrades

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

Institutional Trading of TaoWeave

Several hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new position in TaoWeave during the 4th quarter worth about $30,000. Virtu Financial LLC bought a new stake in TaoWeave during the third quarter worth $39,000. Citadel Advisors LLC bought a new stake in shares of TaoWeave in the 3rd quarter valued at about $56,000. Two Sigma Investments LP bought a new stake in TaoWeave in the third quarter valued at approximately $58,000. Finally, Boothbay Fund Management LLC acquired a new stake in TaoWeave during the 4th quarter valued at $85,000. 1.98% of the stock is currently owned by institutional investors and hedge funds.

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.