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

Shares of Movano Inc. (NASDAQ:MOVE) are set to reverse split before the market opens on 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 market closes on Monday, October 28th.

Movano Price Performance

NASDAQ MOVE traded down $0.03 during trading hours on Friday, reaching $0.26. The stock had a trading volume of 1,152,831 shares, compared to its average volume of 191,592. Movano has a 52-week low of $0.24 and a 52-week high of $1.06. The stock has a fifty day moving average of $0.34 and a 200 day moving average of $0.38.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Movano

Large investors have recently made changes to their positions in the company. Mirador Capital Partners LP grew its position in 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 period. Quantum Private Wealth LLC increased its stake in shares of Movano by 113.8% in the 2nd 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 in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in Movano by 50.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,630,084 shares of the technology company’s stock worth $1,548,000 after purchasing an additional 1,876,000 shares during the period. 16.64% of the stock is currently owned by institutional investors and hedge funds.

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.