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

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) was the target of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 226,870 shares, a decline of 38.5% from the July 30th total of 368,780 shares. Based on an average trading volume of 79,001 shares, the days-to-cover ratio is presently 2.9 days. Currently, 2.3% of the shares of the company are sold short.

Exodus Movement Stock Performance

Exodus Movement stock traded down $0.21 during midday trading on Wednesday, hitting $7.16. 60,276 shares of the company’s stock were exchanged, compared to its average volume of 83,907. The company has a market cap of $216.11 million, a P/E ratio of -2.38 and a beta of 2.01. The stock has a 50-day moving average price of $5.90 and a two-hundred day moving average price of $7.20. Exodus Movement has a 52-week low of $4.57 and a 52-week high of $32.92.

Exodus Movement (NYSEAMERICAN:EXOD) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.62) earnings per share for the quarter. The business had revenue of $26.23 million during the quarter. Exodus Movement had a negative net margin of 79.87% and a negative return on equity of 36.07%. As a group, sell-side analysts expect that Exodus Movement will post -1.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BTIG Research reduced their target price on Exodus Movement from $20.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Zacks Research raised shares of Exodus Movement from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Cantor Fitzgerald raised their price objective on shares of Exodus Movement from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Benchmark reduced their price objective on shares of Exodus Movement from $21.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Finally, Northland Securities set a $8.50 target price on shares of Exodus Movement in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $15.92.

Institutional Investors Weigh In On Exodus Movement

Hedge funds have recently bought and sold shares of the stock. FTX Recovery Trust purchased a new stake in shares of Exodus Movement during the 4th quarter valued at $26,969,000. Tidal Investments LLC purchased a new position in Exodus Movement in the second quarter worth $9,444,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Exodus Movement in the second quarter valued at $2,118,000. Geode Capital Management LLC increased its stake in Exodus Movement by 109.0% in the second quarter. Geode Capital Management LLC now owns 121,757 shares of the company’s stock valued at $3,511,000 after acquiring an additional 63,501 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Exodus Movement by 17,155.2% during the first quarter. Bank of America Corp DE now owns 33,475 shares of the company’s stock valued at $218,000 after purchasing an additional 33,281 shares in the last quarter.

Exodus Movement Company Profile

Exodus Movement, Inc is a software company focused on developing user-friendly tools for managing digital assets. Its flagship product, the Exodus Wallet, is a non-custodial cryptocurrency wallet available on desktop and mobile platforms. The wallet enables users to secure, send, receive and exchange a broad range of digital currencies while retaining full control of their private keys. With built-in portfolio tracking and an integrated exchange feature powered by third-party liquidity providers, Exodus offers a one-stop interface for both newcomers and experienced crypto enthusiasts.

Since its initial release in mid-2016, Exodus has expanded support to over 100 cryptocurrencies and tokens, including major assets such as Bitcoin, Ethereum and Litecoin as well as numerous ERC-20 tokens.