Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Stock Short Interest Report for September

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 148,431 shares, a drop of 58.5% from the September 15th total of 357,968 shares. Based on an average daily trading volume, of 90,145 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.5% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Exodus Movement from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. BTIG Research cut 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 report on Tuesday, September 15th. Benchmark cut their target price on shares of Exodus Movement from $21.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Cantor Fitzgerald upped their price target on shares of Exodus Movement from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, Northland Securities set a $8.50 price target on shares of Exodus Movement in a research report on Wednesday, August 12th. One 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 stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $15.25.

Exodus Movement Stock Up 5.2%

Shares of EXOD traded up $0.30 during trading hours on Thursday, reaching $6.04. 22,741 shares of the company traded hands, compared to its average volume of 81,829. The stock has a market capitalization of $182.41 million, a PE ratio of -2.01 and a beta of 2.05. Exodus Movement has a fifty-two week low of $4.57 and a fifty-two week high of $27.50. The stock has a fifty day simple moving average of $6.95 and a 200 day simple moving average of $6.57.

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

Insider Buying and Selling at Exodus Movement

In other news, CFO James Gernetzke sold 5,682 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $7.35, for a total value of $41,762.70. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 20,171 shares of company stock valued at $151,258 in the last three months. Company insiders own 67.67% of the company’s stock.

Institutional Investors Weigh In On Exodus Movement

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in Exodus Movement by 17,155.2% in the 1st quarter. Bank of America Corp DE now owns 33,475 shares of the company’s stock worth $218,000 after acquiring an additional 33,281 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Exodus Movement during the 2nd quarter worth $125,000. Aristides Capital LLC purchased a new position in shares of Exodus Movement during the 4th quarter worth $164,000. Finally, Impact Partnership Wealth LLC purchased a new position in shares of Exodus Movement during the 1st quarter worth $66,000.

About Exodus Movement

Exodus Movement, Inc develops and operates non-custodial cryptocurrency wallet software. Its products enable users to store, manage, send and receive digital assets while retaining control of their private keys. The company’s wallet is available through desktop and mobile applications and supports a broad range of cryptocurrencies and blockchain networks.

In addition to wallet functionality, Exodus provides services that can include in-wallet cryptocurrency swaps, staking and access to decentralized applications and other Web3 features.