Movano (NASDAQ:MOVE) Shares to Reverse Split on Tuesday, October 29th

Shares of Movano Inc. (NASDAQ:MOVE) are going to reverse split before the market opens on Tuesday, October 29th. The 1-15 reverse split was announced on Friday, October 25th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, October 28th.

Movano Stock Down 11.1 %

Shares of MOVE traded down $0.03 during mid-day trading on Friday, hitting $0.26. 1,152,831 shares of the company’s stock were exchanged, compared to its average volume of 191,592. The firm has a market cap of $26.04 million, a price-to-earnings ratio of -0.58 and a beta of 0.12. The stock’s 50-day simple moving average is $0.34 and its 200-day simple moving average is $0.38. Movano has a 52 week low of $0.24 and a 52 week high of $1.06.

Movano (NASDAQ:MOVE) last posted its quarterly earnings results on Wednesday, August 14th. The technology company reported ($0.06) earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “speculative buy” rating and set a $2.00 price target on shares of Movano in a research report on Wednesday, September 4th.

Institutional Trading of Movano

A number of hedge funds have recently added to or reduced their stakes in MOVE. Mirador Capital Partners LP boosted its position in Movano by 9.6% in the first quarter. Mirador Capital Partners LP now owns 413,204 shares of the technology company’s stock valued at $170,000 after buying an additional 36,230 shares in the last quarter. Quantum Private Wealth LLC boosted its position in Movano by 113.8% in the second quarter. Quantum Private Wealth LLC now owns 89,139 shares of the technology company’s stock valued at $25,000 after buying an additional 47,441 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in Movano by 50.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 5,630,084 shares of the technology company’s stock valued at $1,548,000 after buying an additional 1,876,000 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

About Movano

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.