Movano (NASDAQ:MOVE) Shares Set to Reverse Split on Tuesday, October 29th

Movano Inc. (NASDAQ:MOVE)’s stock is scheduled to reverse split on the morning of Tuesday, October 29th. The 1-15 reverse split was announced on Friday, October 25th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, October 28th.

Movano Price Performance

NASDAQ:MOVE traded down $0.03 during mid-day trading on Friday, hitting $0.26. 1,152,831 shares of the company’s stock were exchanged, compared to its average volume of 191,592. Movano has a one year low of $0.24 and a one year high of $1.06. The business has a fifty day moving average price of $0.34 and a 200 day moving average price of $0.38. The company has a market cap of $26.04 million, a PE ratio of -0.58 and a beta of 0.12.

Movano (NASDAQ:MOVE) last issued its earnings results on Wednesday, August 14th. The technology company reported ($0.06) earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “speculative buy” rating and issued a $2.00 target price on shares of Movano in a report on Wednesday, September 4th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC raised its holdings in 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 buying an additional 1,876,000 shares during the last quarter. Mirador Capital Partners LP raised its holdings in shares of Movano by 9.6% during the first quarter. Mirador Capital Partners LP now owns 413,204 shares of the technology company’s stock valued at $170,000 after purchasing an additional 36,230 shares during the last quarter. Finally, Quantum Private Wealth LLC raised its holdings in shares of 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 purchasing an additional 47,441 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

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.