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

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 368,780 shares, a growth of 137.0% from the July 15th total of 155,577 shares. Approximately 3.8% of the company’s stock are short sold. Based on an average daily volume of 32,435 shares, the days-to-cover ratio is currently 11.4 days.

Hedge Funds Weigh In On Exodus Movement

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in 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 purchasing an additional 3,008 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Exodus Movement in the first quarter worth approximately $66,000. Aristides Capital LLC bought a new position in shares of Exodus Movement in the fourth quarter valued at approximately $164,000. Vident Advisory LLC bought a new position in shares of Exodus Movement in the second quarter valued at approximately $369,000. Finally, Vontobel Holding Ltd. boosted its position in shares of Exodus Movement by 9.3% during the fourth quarter. Vontobel Holding Ltd. now owns 15,266 shares of the company’s stock valued at $226,000 after buying an additional 1,295 shares during the last quarter.

Exodus Movement Stock Up 26.3%

EXOD stock traded up $1.62 during midday trading on Friday, reaching $7.77. 181,516 shares of the company’s stock traded hands, compared to its average volume of 48,402. The company has a market cap of $233.18 million, a price-to-earnings ratio of -2.58 and a beta of 1.90. The firm’s fifty day moving average price is $5.53 and its 200-day moving average price is $7.58. 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 data 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%. Analysts forecast that Exodus Movement will post -1.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EXOD. Zacks Research upgraded shares of Exodus Movement from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Northland Securities set a $8.50 target price on Exodus Movement in a research note on Wednesday. Cantor Fitzgerald boosted their target price on Exodus Movement from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday. Benchmark decreased their target price on Exodus Movement from $21.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Finally, BTIG Research dropped their price target on Exodus Movement from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $15.92.

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.