Short Interest in Taoping Inc. (NASDAQ:TAOP) Declines By 49.8%

Taoping Inc. (NASDAQ:TAOP) saw a large decrease in short interest in June. As of June 30th, there was short interest totaling 28,632 shares, a decrease of 49.8% from the June 15th total of 57,002 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 12,437 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Taoping from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Taoping Trading Up 1.7%

NASDAQ:TAOP opened at $1.29 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. The company’s 50 day moving average is $1.39 and its two-hundred day moving average is $1.39. Taoping has a twelve month low of $1.18 and a twelve month high of $4.69.

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