Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Stock Short Interest Rises 95.1%

by · The Cerbat Gem

Exodus Movement, Inc. (NYSEAMERICAN:EXOD – Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 289,601 shares, an increase of 95.1% from the September 30th total of 148,431 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average trading volume of 46,538 shares, the days-to-cover ratio is currently 6.2 days.

Exodus Movement Stock Up 1.7%

EXOD traded up $0.09 during midday trading on Monday, hitting $5.24. 5,098 shares of the company traded hands, compared to its average volume of 80,288. The company’s 50-day moving average is $6.74 and its 200 day moving average is $7.73. The firm has a market capitalization of $158.10 million, a PE ratio of -1.74 and a beta of 2.24. Exodus Movement has a 52 week low of $4.57 and a 52 week high of $25.48.

Exodus Movement (NYSEAMERICAN:EXOD – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.62) EPS for the quarter. The company had revenue of $26.23 million during the quarter. Exodus Movement had a negative return on equity of 36.07% and a negative net margin of 79.87%. On average, sell-side analysts predict that Exodus Movement will post -1.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO James Gernetzke sold 5,682 shares of Exodus Movement stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $7.35, for a total value of $41,762.70. Following the transaction, the chief financial officer owned 463,988 shares in the company, valued at $3,410,311.80. This trade represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 20,036 shares of company stock worth $150,568 in the last quarter. 67.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exodus Movement

A hedge fund recently raised its position in Exodus Movement stock. Bank of America Corp DE boosted its holdings in shares of Exodus Movement, Inc. (NYSEAMERICAN:EXOD – Free Report) by 17,155.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,475 shares of the company’s stock after buying an additional 33,281 shares during the quarter. Bank of America Corp DE owned approximately 0.11% of Exodus Movement worth $218,000 at the end of the most recent quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on EXOD. BTIG Research decreased their target price on shares of Exodus Movement from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, September 15th. Benchmark decreased their target price on shares of Exodus Movement from $21.00 to $12.00 and set a “buy” rating for the company in a report on Monday, July 20th. Northland Securities set a $8.50 price target on shares of Exodus Movement in a research report on Wednesday, August 12th. Zacks Research upgraded shares of Exodus Movement from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Cantor Fitzgerald upped their price objective on Exodus Movement from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $15.25.

Check Out Our Latest Research Report on Exodus Movement

About Exodus Movement

(Get Free Report)

Exodus Movement, Inc develops and operates a non-custodial cryptocurrency wallet platform. Its software enables users to manage, store, send and receive digital assets while retaining control of their private keys. The company’s products are designed for individuals seeking to interact with cryptocurrencies and other blockchain-based assets without relying on a centralized exchange to hold their funds.

Exodus offers wallet applications for desktop and mobile devices, along with browser-based tools.

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