Corvex, Inc. (NASDAQ:MOVE) Sees Large Growth in Short Interest

Corvex, Inc. (NASDAQ:MOVE) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 492,331 shares, a growth of 80.4% from the September 15th total of 272,855 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average trading volume of 241,917 shares, the short-interest ratio is currently 2.0 days.

Corvex Price Performance

Shares of MOVE traded down $0.40 during trading hours on Friday, reaching $8.01. 54,800 shares of the company’s stock traded hands, compared to its average volume of 158,696. Corvex has a 12 month low of $3.44 and a 12 month high of $26.72. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 4.28. The stock has a market cap of $252.72 million, a PE ratio of -0.42 and a beta of 0.87. The firm’s 50 day simple moving average is $11.05 and its 200-day simple moving average is $14.77.

Corvex (NASDAQ:MOVE) last posted its quarterly earnings data on Friday, August 14th. The AI infrastructure company reported ($5.12) earnings per share for the quarter, missing the consensus estimate of ($3.17) by ($1.95). The company had revenue of $3.80 million for the quarter, compared to the consensus estimate of $6.71 million. Equities analysts expect that Corvex will post -0.53 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on MOVE shares. Zacks Research raised shares of Corvex to a “hold” rating in a report on Friday, September 18th. Chardan Capital set a $18.75 price target on shares of Corvex and gave the stock a “buy” rating in a report on Wednesday, September 16th. Finally, Weiss Ratings downgraded Corvex from a “sell (d)” rating to a “sell (e)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.75.

About Corvex

Movano Inc engages in developing a platform to deliver healthcare solutions at the intersection of medical and consumer devices. The company is involved in the development of Evie Ring, which is a wearable designed specifically for women that combines health and wellness metrics comprises resting heart rate, heart rate variability (HRV), blood oxygen saturation (SpO2), respiration rate, skin temperature variability, period and ovulation tracking, and menstrual symptom tracking, as well as activity profile, including steps, active minutes and calories burned, sleep stages and duration, and mood tracking.