Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Short Interest Up 38.9% in March

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 347,433 shares, an increase of 38.9% from the February 26th total of 250,074 shares. Currently, 3.8% of the shares of the company are sold short. Based on an average daily volume of 80,098 shares, the days-to-cover ratio is presently 4.3 days.

Institutional Trading of Exodus Movement

Institutional investors and hedge funds have recently modified their holdings of the company. Vontobel Holding Ltd. lifted its position in Exodus Movement by 9.3% in the fourth quarter. Vontobel Holding Ltd. now owns 15,266 shares of the company’s stock worth $226,000 after purchasing an additional 1,295 shares during the period. State of Wyoming bought a new stake in Exodus Movement in the 3rd quarter valued at $58,000. Vident Advisory LLC raised its stake in shares of Exodus Movement by 10.8% in the 4th quarter. Vident Advisory LLC now owns 22,881 shares of the company’s stock valued at $338,000 after buying an additional 2,229 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Exodus Movement by 39.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,491 shares of the company’s stock valued at $155,000 after buying an additional 2,951 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Exodus Movement by 42,971.4% during the 4th quarter. Royal Bank of Canada now owns 3,015 shares of the company’s stock worth $44,000 after acquiring an additional 3,008 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Compass Point reissued a “buy” rating and set a $19.00 price objective on shares of Exodus Movement in a research report on Thursday, March 12th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Exodus Movement in a research report on Thursday, December 18th. Zacks Research lowered Exodus Movement from a “hold” rating to a “strong sell” rating in a report on Friday, March 13th. BTIG Research reduced their price objective on Exodus Movement from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Finally, Benchmark lowered their price objective on shares of Exodus Movement from $42.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Exodus Movement currently has an average rating of “Buy” and a consensus target price of $35.00.

Exodus Movement Stock Performance

Shares of EXOD traded down $0.37 during trading hours on Friday, reaching $6.48. 81,343 shares of the company traded hands, compared to its average volume of 102,249. The stock’s fifty day moving average is $10.87 and its 200 day moving average is $17.56. Exodus Movement has a 1-year low of $6.22 and a 1-year high of $56.00. The stock has a market cap of $193.17 million, a P/E ratio of -10.12 and a beta of 1.04.

Exodus Movement (NYSEAMERICAN:EXOD) last released its earnings results on Wednesday, March 11th. The company reported ($1.69) earnings per share for the quarter. Exodus Movement had a negative return on equity of 4.28% and a negative net margin of 9.34%.The firm had revenue of $29.39 million for the quarter. On average, equities research analysts predict that Exodus Movement will post 1.62 EPS for the current year.

About Exodus Movement

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.