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

Movano Inc. (NASDAQ:MOVE) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 32,300 shares, a decline of 74.8% from the October 31st total of 128,300 shares. Based on an average daily trading volume, of 25,600 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.6% of the shares of the company are short sold.

Institutional Investors Weigh In On Movano

Several hedge funds and other institutional investors have recently made changes to their positions in MOVE. Quantum Private Wealth LLC increased its holdings in Movano by 113.8% during 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Movano by 22.2% during the third quarter. Geode Capital Management LLC now owns 766,716 shares of the technology company’s stock valued at $275,000 after purchasing an additional 139,420 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Movano in the third quarter worth approximately $55,000. Finally, Dorsey & Whitney Trust CO LLC increased its stake in shares of 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 worth $1,548,000 after purchasing an additional 1,876,000 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analysts Set New Price Targets

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

Movano Stock Performance

Shares of MOVE stock traded up $1.79 on Wednesday, reaching $5.39. The stock had a trading volume of 705,717 shares, compared to its average volume of 19,930. The stock has a market cap of $35.74 million, a P/E ratio of -1.04 and a beta of 0.18. Movano has a 1 year low of $2.80 and a 1 year high of $14.40. The company has a 50 day simple moving average of $4.52 and a 200 day simple moving average of $5.12.

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.