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

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 357,968 shares, an increase of 68.0% from the August 31st total of 213,071 shares. Based on an average trading volume of 77,222 shares, the days-to-cover ratio is currently 4.6 days. Approximately 3.7% of the shares of the company are short sold.

Insider Transactions at Exodus Movement

In other Exodus Movement news, CFO James Gernetzke sold 5,682 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $7.35, for a total transaction of $41,762.70. Following the sale, the chief financial officer directly owned 463,988 shares of the company’s stock, valued at $3,410,311.80. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 14,592 shares of company stock valued at $111,982. Insiders own 67.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Impact Partnership Wealth LLC purchased a new stake in Exodus Movement in the first quarter valued at approximately $66,000. Aristides Capital LLC purchased a new stake in shares of Exodus Movement during the 4th quarter valued at $164,000. Bank of New York Mellon Corp bought a new stake in shares of Exodus Movement during the 2nd quarter worth $125,000. Bank of America Corp DE grew its position in Exodus Movement by 17,155.2% in the first 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 in the last quarter. Finally, FTX Recovery Trust purchased a new position in Exodus Movement in the fourth quarter worth $26,969,000.

Exodus Movement Trading Down 3.8%

Shares of EXOD traded down $0.27 during mid-day trading on Thursday, reaching $6.90. 42,812 shares of the stock traded hands, compared to its average volume of 83,689. The firm has a fifty day moving average price of $6.72 and a 200 day moving average price of $6.68. The company has a market cap of $208.38 million, a price-to-earnings ratio of -2.29 and a beta of 2.02. Exodus Movement has a 1 year low of $4.57 and a 1 year high of $32.21.

Exodus Movement (NYSEAMERICAN:EXOD) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.62) earnings per share (EPS) for the quarter. The business had revenue of $26.23 million during the quarter. Exodus Movement had a negative return on equity of 36.07% and a negative net margin of 79.87%. On average, sell-side analysts anticipate that Exodus Movement will post -1.54 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BTIG Research lowered their price target on shares of Exodus Movement from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Cantor Fitzgerald increased their target price on Exodus Movement from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Zacks Research upgraded Exodus Movement from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Northland Securities set a $8.50 price objective on Exodus Movement in a report on Wednesday, August 12th. Finally, Benchmark cut their target price on Exodus Movement from $21.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $15.25.

Exodus Movement Company Profile

Exodus Movement, Inc develops self-custodial software for managing digital assets. Its primary product, Exodus Wallet, enables users to store, send, receive, buy, sell and exchange cryptocurrencies and other supported digital assets while retaining control of their private keys. The wallet is available across desktop and mobile platforms and is designed for both new and experienced cryptocurrency users.

The company also provides access to additional blockchain-related services, including staking, decentralized applications and Web3 functionality, through its wallet ecosystem.