TaoWeave (NASDAQ:TWAV) Issues Earnings Results

TaoWeave (NASDAQ:TWAV) issued its quarterly earnings data on Friday. The company reported ($0.02) earnings per share (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 Stock Performance

TWAV traded down $0.06 during trading on Friday, hitting $1.46. 78,003 shares of the stock were exchanged, compared to its average volume of 63,442. The firm has a 50 day simple moving average of $1.56 and a 200 day simple moving average of $1.77. The firm has a market cap of $4.86 million, a price-to-earnings ratio of -0.85 and a beta of 2.61. TaoWeave has a 1 year low of $0.58 and a 1 year high of $5.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of TaoWeave in a report on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new position in shares of TaoWeave in the 3rd quarter worth approximately $56,000. Renaissance Technologies LLC purchased a new stake in TaoWeave during the 4th quarter worth approximately $131,000. Boothbay Fund Management LLC purchased a new stake in TaoWeave during the 3rd quarter valued at about $120,000. Two Sigma Investments LP purchased a new stake in shares of TaoWeave in the 3rd quarter valued at $58,000. Finally, Virtu Financial LLC purchased a new stake in shares of TaoWeave in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 1.98% of the company’s stock.

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.