Movano Inc. (NASDAQ:MOVE) Sees Large Decrease in Short Interest

Movano Inc. (NASDAQ:MOVE) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 387,600 shares, a decline of 25.9% from the September 30th total of 523,300 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 179,600 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

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

Movano Stock Down 11.1 %

Shares of NASDAQ MOVE traded down $0.03 during midday trading on Friday, hitting $0.26. The company had a trading volume of 1,163,561 shares, compared to its average volume of 191,592. The business has a 50-day simple moving average of $0.33 and a two-hundred day simple moving average of $0.38. Movano has a twelve month low of $0.24 and a twelve month high of $1.06. The firm has a market capitalization of $26.04 million, a price-to-earnings ratio of -0.58 and a beta of 0.12.

Movano’s stock is set to reverse split on the morning of 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 (NASDAQ:MOVE) last posted its earnings results on Wednesday, August 14th. The technology company reported ($0.06) earnings per share for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MOVE. Mirador Capital Partners LP grew its holdings in shares of Movano by 9.6% during the first quarter. Mirador Capital Partners LP now owns 413,204 shares of the technology company’s stock worth $170,000 after buying an additional 36,230 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Movano by 50.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,630,084 shares of the technology company’s stock valued at $1,548,000 after acquiring an additional 1,876,000 shares during the last quarter. Finally, Quantum Private Wealth LLC lifted its stake in shares of Movano by 113.8% during the 2nd quarter. Quantum Private Wealth LLC now owns 89,139 shares of the technology company’s stock worth $25,000 after purchasing an additional 47,441 shares during the period. 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.