Movano (NASDAQ:MOVE) Coverage Initiated at Benchmark

Benchmark began coverage on shares of Movano (NASDAQ:MOVE) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “speculative buy” rating and a $2.00 price target on the technology company’s stock. Benchmark’s price target points to a potential upside of 397.51% from the company’s current price.

Movano Stock Down 6.1 %

Shares of NASDAQ MOVE opened at $0.40 on Tuesday. Movano has a 12-month low of $0.24 and a 12-month high of $1.48. The firm has a market cap of $39.50 million, a PE ratio of -0.72 and a beta of 0.11. The company’s fifty day simple moving average is $0.37 and its 200 day simple moving average is $0.48.

Movano (NASDAQ:MOVE) last released its quarterly earnings data on Wednesday, May 15th. The technology company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $0.85 million for the quarter.

Institutional Investors Weigh In On Movano

Several hedge funds and other institutional investors have recently modified their holdings of the company. EP Wealth Advisors LLC acquired a new stake in Movano in the 4th quarter valued at $101,000. Mirador Capital Partners LP grew 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 buying an additional 36,230 shares during the last quarter. Finally, Quantum Private Wealth LLC increased its position 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 worth $25,000 after acquiring an additional 47,441 shares in the last quarter. Institutional investors own 16.64% of the company’s stock.

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.