Short Interest in Movano Inc. (NASDAQ:MOVE) Rises By 45.0%

Movano Inc. (NASDAQ:MOVE) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 44,800 shares, an increase of 45.0% from the January 15th total of 30,900 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 37,300 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Trading of Movano

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd purchased a new position in Movano in the 3rd quarter valued at about $55,000. Geode Capital Management LLC raised its position in shares of Movano by 22.2% in the third quarter. Geode Capital Management LLC now owns 766,716 shares of the technology company’s stock valued at $275,000 after buying an additional 139,420 shares during the last quarter. Finally, Clayton Partners LLC acquired a new stake in Movano during the fourth quarter worth approximately $609,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Movano Price Performance

NASDAQ:MOVE traded down $0.01 during trading hours on Friday, reaching $5.13. 1,639 shares of the company traded hands, compared to its average volume of 7,419. The firm’s 50-day moving average is $5.55 and its 200-day moving average is $5.06. The stock has a market cap of $34.01 million, a P/E ratio of -1.00 and a beta of 0.53. Movano has a 1-year low of $2.80 and a 1-year high of $11.25.

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.