Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Shares Shorted: Short Interest Down 58.5% in September

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

Analyst Upgrades and Downgrades

EXOD has been the topic of several research reports. Northland Securities set a $8.50 price target on Exodus Movement in a research report on Wednesday, August 12th. BTIG Research reduced their price target on Exodus Movement from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, September 15th. Zacks Research upgraded Exodus Movement from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Cantor Fitzgerald raised their price objective on Exodus Movement from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Benchmark dropped their target price on shares of Exodus Movement from $21.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, July 20th. One investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $15.25.

Exodus Movement Stock Down 0.5%

Shares of NYSEAMERICAN EXOD traded down $0.03 on Tuesday, reaching $6.03. 34,525 shares of the company’s stock traded hands, compared to its average volume of 82,343. The business’s 50 day simple moving average is $6.93 and its two-hundred day simple moving average is $6.59. Exodus Movement has a 12 month low of $4.57 and a 12 month high of $28.48. The company has a market cap of $182.11 million, a price-to-earnings ratio of -2.00 and a beta of 2.05.

Exodus Movement (NYSEAMERICAN:EXOD) last issued its quarterly earnings results 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 during the quarter. Analysts forecast that Exodus Movement will post -1.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Exodus Movement news, CFO James Gernetzke sold 5,579 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $7.04, for a total transaction of $39,276.16. Following the transaction, the chief financial officer owned 458,409 shares in the company, valued at approximately $3,227,199.36. This represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 20,171 shares of company stock worth $151,258. Insiders own 67.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EXOD. Bank of America Corp DE raised its stake 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 buying an additional 33,281 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Exodus Movement by 20.2% in the first quarter. Bank of New York Mellon Corp now owns 24,526 shares of the company’s stock worth $159,000 after acquiring an additional 4,124 shares during the last quarter. Aristides Capital LLC purchased a new stake in shares of Exodus Movement in the fourth quarter worth $164,000. Finally, Impact Partnership Wealth LLC bought a new position in shares of Exodus Movement during the first quarter valued at $66,000.

Exodus Movement Company Profile

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.