Short Interest in Movano Inc. (NASDAQ:MOVE) Declines By 61.2%

Movano Inc. (NASDAQ:MOVE) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 20,000 shares, a decrease of 61.2% from the February 28th total of 51,600 shares. Based on an average trading volume of 16,600 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Movano

Hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Movano in the third quarter valued at approximately $55,000. Geode Capital Management LLC raised its holdings in Movano by 22.2% in the 3rd 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, Clayton Partners LLC acquired a new position in Movano in the 4th quarter valued at $609,000. 16.64% of the stock is owned by institutional investors and hedge funds.

Movano Stock Down 2.0 %

Shares of MOVE traded down $0.04 during trading hours on Friday, reaching $1.97. 5,065 shares of the company traded hands, compared to its average volume of 25,237. The stock has a market capitalization of $13.07 million, a PE ratio of -0.39 and a beta of 0.54. The stock has a fifty day simple moving average of $4.14 and a 200 day simple moving average of $4.73. Movano has a fifty-two week low of $1.92 and a fifty-two week high of $8.85.

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.