Movano Inc. (NASDAQ:MOVE) Short Interest Up 119.5% in November

Movano Inc. (NASDAQ:MOVE) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 70,900 shares, a growth of 119.5% from the November 15th total of 32,300 shares. Based on an average trading volume of 45,900 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.3% of the shares of the stock are sold short.

Institutional Trading of Movano

Several hedge funds and other institutional investors have recently made changes to their positions in MOVE. Y Intercept Hong Kong Ltd bought a new position in Movano in the 3rd quarter valued at approximately $55,000. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 139,420 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its stake in shares of Movano by 50.0% during 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 acquiring an additional 1,876,000 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Movano Stock Performance

Shares of MOVE traded up $0.12 during trading hours on Thursday, reaching $6.57. The stock had a trading volume of 39,582 shares, compared to its average volume of 22,364. Movano has a 12 month low of $2.80 and a 12 month high of $12.75. The stock has a market capitalization of $43.59 million, a PE ratio of -1.29 and a beta of 0.54. The company’s 50-day moving average is $4.58 and its two-hundred day moving average is $5.07.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “speculative buy” rating and issued 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.