Short Interest in Movano Inc. (NASDAQ:MOVE) Drops By 66.9%

Movano Inc. (NASDAQ:MOVE) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 128,300 shares, a drop of 66.9% from the October 15th total of 387,600 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 25,700 shares, the days-to-cover ratio is presently 5.0 days.

Institutional Trading of Movano

A hedge fund recently raised its stake in Movano stock. Quantum Private Wealth LLC raised its holdings in Movano Inc. (NASDAQ:MOVE) by 113.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,139 shares of the technology company’s stock after purchasing an additional 47,441 shares during the period. Quantum Private Wealth LLC owned about 0.09% of Movano worth $25,000 as of its most recent SEC filing. Institutional investors own 16.64% of the company’s stock.

Movano Stock Performance

MOVE stock traded down $0.02 on Tuesday, reaching $4.23. The company had a trading volume of 4,674 shares, compared to its average volume of 16,962. The company’s fifty day moving average is $4.80 and its 200 day moving average is $5.38. The company has a market cap of $27.92 million, a P/E ratio of -0.63 and a beta of 0.18. Movano has a 1 year low of $3.01 and a 1 year high of $14.70.

Movano (NASDAQ:MOVE) last posted its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.90) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Separately, Benchmark restated a “speculative buy” rating and set a $30.00 target price on shares of Movano in a research report on Wednesday, September 4th.

Movano Company Profile

Movano Inc engages in developing a platform to deliver healthcare solutions at the intersection of medical and consumer devices. The company is involved in the development of Evie Ring, which is a wearable designed specifically for women that combines health and wellness metrics comprises resting heart rate, heart rate variability (HRV), blood oxygen saturation (SpO2), respiration rate, skin temperature variability, period and ovulation tracking, and menstrual symptom tracking, as well as activity profile, including steps, active minutes and calories burned, sleep stages and duration, and mood tracking.