Expion360 Inc. (NASDAQ:XPON) Stock Short Interest Declines 38.2%

Expion360 Inc. (NASDAQ:XPON) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totaling 166,089 shares, a decline of 38.2% from the August 31st total of 268,909 shares. Currently, 16.7% of the shares of the company are sold short. Based on an average trading volume of 178,927 shares, the short-interest ratio is presently 0.9 days.

Expion360 Stock Down 1.8%

Expion360 stock opened at $4.47 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.55 and a quick ratio of 3.41. Expion360 has a 1-year low of $2.77 and a 1-year high of $21.60. The company has a market cap of $4.51 million, a PE ratio of -0.42 and a beta of 0.66. The stock’s 50 day moving average price is $4.70 and its 200 day moving average price is $5.95.

Expion360 (NASDAQ:XPON) last released its quarterly earnings data on Friday, August 7th. The company reported ($1.34) earnings per share (EPS) for the quarter. The business had revenue of $2.03 million during the quarter. Expion360 had a negative return on equity of 102.32% and a negative net margin of 82.32%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Expion360 in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Expion360 has a consensus rating of “Sell”.

Hedge Funds Weigh In On Expion360

A hedge fund recently raised its position in Expion360 stock. Kingsbury Capital Investment Advisors LLC increased its stake in Expion360 Inc. (NASDAQ:XPON) by 399.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,152 shares of the company’s stock after purchasing an additional 121,692 shares during the quarter. Kingsbury Capital Investment Advisors LLC owned 15.82% of Expion360 worth $68,000 at the end of the most recent quarter. 34.50% of the stock is currently owned by institutional investors.

About Expion360

Expion360, Inc develops and sells lithium-ion battery systems and related power-management products. The company focuses primarily on lithium iron phosphate (LiFePO4) batteries designed to provide portable and auxiliary power for recreational vehicles, marine applications, and other outdoor and mobile uses.

Its product offerings include the e360 line of lithium battery systems, battery enclosures, monitoring and management components, chargers, and related accessories. Expion360 emphasizes solutions intended to replace or supplement traditional lead-acid batteries, offering applications such as onboard power storage, off-grid electricity, and recreational power management.

Founded in 2016 and headquartered in Redmond, Oregon, Expion360 markets its products through recreational-vehicle and marine channels, dealers, distributors, and direct sales.