TaoWeave (NASDAQ:TWAV) Issues Quarterly Earnings Results

TaoWeave (NASDAQ:TWAV) announced its quarterly earnings data on Friday. The company reported ($0.02) EPS for the quarter, Zacks reports. TaoWeave had a negative net margin of 260.77% and a negative return on equity of 80.80%.

TaoWeave Trading Down 3.9%

Shares of TaoWeave stock opened at $1.46 on Friday. The firm has a market capitalization of $4.86 million, a PE ratio of -0.85 and a beta of 2.61. The firm’s 50 day moving average is $1.56 and its 200 day moving average is $1.77. TaoWeave has a 1 year low of $0.58 and a 1 year high of $5.50.

Institutional Investors Weigh In On TaoWeave

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of TaoWeave during the 4th quarter valued at approximately $131,000. Boothbay Fund Management LLC bought a new stake in shares of TaoWeave during the 3rd quarter valued at approximately $120,000. Two Sigma Investments LP bought a new stake in shares of TaoWeave during the 3rd quarter valued at approximately $58,000. Citadel Advisors LLC bought a new stake in shares of TaoWeave during the 3rd quarter valued at approximately $56,000. Finally, XTX Topco Ltd bought a new stake in shares of TaoWeave during the 4th quarter valued at approximately $30,000. 1.98% of the stock is owned by institutional investors.

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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus 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.