Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Sees Large Decrease in Short Interest

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 155,577 shares, a drop of 47.3% from the June 30th total of 295,129 shares. Based on an average daily trading volume, of 60,963 shares, the short-interest ratio is presently 2.6 days. Approximately 1.6% of the company’s stock are short sold.

Hedge Funds Weigh In On Exodus Movement

A number of institutional investors and hedge funds have recently made changes to their positions in EXOD. FTX Recovery Trust bought a new stake in Exodus Movement during the fourth quarter valued at about $26,969,000. Tidal Investments LLC bought a new stake in Exodus Movement in the 2nd quarter worth approximately $9,444,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Exodus Movement in the second quarter worth $2,118,000. Geode Capital Management LLC raised its stake in Exodus Movement by 109.0% during the second quarter. Geode Capital Management LLC now owns 121,757 shares of the company’s stock valued at $3,511,000 after purchasing an additional 63,501 shares in the last quarter. Finally, Bank of America Corp DE lifted 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 during the last quarter.

Exodus Movement Stock Performance

Shares of EXOD traded down $0.29 during mid-day trading on Wednesday, hitting $5.09. 19,943 shares of the company traded hands, compared to its average volume of 79,001. The stock has a market cap of $152.75 million, a price-to-earnings ratio of -4.01 and a beta of 1.93. The stock has a 50-day moving average price of $5.89 and a two-hundred day moving average price of $8.53. Exodus Movement has a 1 year low of $4.57 and a 1 year high of $33.33.

Exodus Movement (NYSEAMERICAN:EXOD) last posted its earnings results on Monday, May 11th. The company reported ($1.08) EPS for the quarter. The company had revenue of $22.75 million during the quarter. Exodus Movement had a negative return on equity of 11.78% and a negative net margin of 28.25%. On average, analysts forecast that Exodus Movement will post -1.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EXOD shares. Zacks Research upgraded Exodus Movement from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. BTIG Research lowered their target price on shares of Exodus Movement from $20.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Exodus Movement in a research note on Monday, June 15th. Northland Securities set a $10.00 target price on shares of Exodus Movement in a research note on Wednesday, July 22nd. Finally, Benchmark lowered their price objective on Exodus Movement from $21.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Exodus Movement presently has a consensus rating of “Buy” and an average target price of $21.17.

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.