Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Sees Significant Growth in Short Interest

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 289,601 shares, a growth of 95.1% from the September 30th total of 148,431 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily volume of 46,538 shares, the days-to-cover ratio is currently 6.2 days.

Exodus Movement Trading Down 8.7%

NYSEAMERICAN EXOD opened at $5.15 on Friday. The firm has a market cap of $155.53 million, a PE ratio of -1.71 and a beta of 2.05. Exodus Movement has a 1-year low of $4.57 and a 1-year high of $25.48. The stock has a 50-day moving average of $6.74 and a 200-day moving average of $7.73.

Exodus Movement (NYSEAMERICAN:EXOD) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.62) earnings per share (EPS) for the quarter. The company had revenue of $26.23 million for the quarter. Exodus Movement had a negative return on equity of 36.07% and a negative net margin of 79.87%. As a group, equities research analysts forecast that Exodus Movement will post -1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Zacks Research raised Exodus Movement from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. BTIG Research decreased their price target on shares of Exodus Movement from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, September 15th. Northland Securities set a $8.50 price objective on shares of Exodus Movement in a report on Wednesday, August 12th. Cantor Fitzgerald upped their price objective on shares of Exodus Movement from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, Benchmark reduced their target price on shares of Exodus Movement from $21.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Exodus Movement has a consensus rating of “Buy” and a consensus target price of $15.25.

Insider Activity at Exodus Movement

In related news, CFO James Gernetzke sold 5,682 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $7.35, for a total transaction of $41,762.70. Following the transaction, the chief financial officer directly owned 463,988 shares of the company’s stock, valued at approximately $3,410,311.80. This trade represents a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 20,171 shares of company stock worth $151,258. 67.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Exodus Movement stock. Bank of New York Mellon Corp bought a new position in Exodus Movement, Inc. (NYSEAMERICAN:EXOD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,174 shares of the company’s stock, valued at approximately $125,000. Bank of New York Mellon Corp owned 0.08% of Exodus Movement as of its most recent SEC filing.

Exodus Movement Company Profile

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.