TaoWeave (NASDAQ:TWAV) Trading Up 13.8% – Here’s What Happened

TaoWeave, Inc. (NASDAQ:TWAV) shares were up 13.8% during mid-day trading on Tuesday . The stock traded as high as $1.65 and last traded at $1.57. Approximately 274,581 shares were traded during trading, a decline of 68% from the average daily volume of 864,357 shares. The stock had previously closed at $1.38.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TaoWeave in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

TaoWeave Stock Performance

The firm has a fifty day simple moving average of $1.30 and a 200 day simple moving average of $2.04. The company has a market cap of $5.23 million, a PE ratio of -0.92 and a beta of 3.29.

TaoWeave (NASDAQ:TWAV) last announced its quarterly earnings data on Friday, March 20th. The company reported ($1.00) earnings per share for the quarter. TaoWeave had a negative return on equity of 80.80% and a negative net margin of 260.77%.The company had revenue of $0.62 million for the quarter.

Hedge Funds Weigh In On TaoWeave

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of TaoWeave during the 4th quarter valued at $131,000. Boothbay Fund Management LLC purchased a new position in shares of TaoWeave in the 3rd quarter worth $120,000. Two Sigma Investments LP acquired a new position in TaoWeave in the third quarter valued at $58,000. Citadel Advisors LLC purchased a new stake in TaoWeave during the third quarter valued at about $56,000. Finally, XTX Topco Ltd purchased a new stake in TaoWeave during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 1.98% of the company’s stock.

TaoWeave Company Profile

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.