Movano Inc. (NASDAQ:MOVE) Short Interest Down 66.9% in October

Movano Inc. (NASDAQ:MOVE) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 128,300 shares, a decrease of 66.9% from the October 15th total of 387,600 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 25,700 shares, the short-interest ratio is presently 5.0 days.

Institutional Investors Weigh In On Movano

A hedge fund recently raised its stake in Movano stock. Dorsey & Whitney Trust CO LLC grew its stake in shares of Movano Inc. (NASDAQ:MOVE) by 50.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,630,084 shares of the technology company’s stock after buying an additional 1,876,000 shares during the quarter. Dorsey & Whitney Trust CO LLC owned about 5.73% of Movano worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission. 16.64% of the stock is currently owned by institutional investors.

Movano Stock Performance

Shares of Movano stock traded down $0.02 during trading on Tuesday, hitting $4.23. 4,674 shares of the stock were exchanged, compared to its average volume of 16,962. Movano has a 12 month low of $3.01 and a 12 month high of $14.70. The stock has a market cap of $27.92 million, a PE ratio of -0.63 and a beta of 0.18. The stock’s fifty day moving average is $4.80 and its 200 day moving average is $5.38.

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

Wall Street Analysts Forecast Growth

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

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.