Expion360 Inc. (NASDAQ:XPON) Sees Significant Decline in Short Interest

Expion360 Inc. (NASDAQ:XPON) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 61,372 shares, a decline of 63.0% from the September 15th total of 166,089 shares. Based on an average daily volume of 72,206 shares, the days-to-cover ratio is presently 0.8 days. Approximately 6.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Expion360 in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, Expion360 has a consensus rating of “Sell”.

Expion360 Price Performance

Shares of Expion360 stock traded down $0.06 during midday trading on Tuesday, reaching $4.03. The company had a trading volume of 6,997 shares, compared to its average volume of 851,239. The company has a current ratio of 5.55, a quick ratio of 3.41 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $4.81 and a 200 day simple moving average of $5.75. Expion360 has a 1-year low of $2.77 and a 1-year high of $20.64. The company has a market capitalization of $4.08 million, a price-to-earnings ratio of -0.38 and a beta of 0.71.

Expion360 (NASDAQ:XPON) last released its earnings results on Friday, August 7th. The company reported ($1.34) EPS for the quarter. The firm had revenue of $2.03 million during the quarter. Expion360 had a negative net margin of 82.32% and a negative return on equity of 102.32%.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Expion360 stock. Kingsbury Capital Investment Advisors LLC raised its holdings in Expion360 Inc. (NASDAQ:XPON) by 399.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,152 shares of the company’s stock after acquiring an additional 121,692 shares during the period. Kingsbury Capital Investment Advisors LLC owned about 15.82% of Expion360 worth $68,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 34.50% of the company’s stock.

Expion360 Company Profile

Expion360, Inc is a lithium battery technology company focused on energy-storage solutions for recreational vehicles, marine applications, and other mobile and off-grid uses. The company designs and markets lithium iron phosphate (LiFePO4) battery systems intended to provide longer service life, lower weight, and greater usable capacity than conventional lead-acid batteries.

Its product portfolio includes 12-volt lithium batteries and battery systems sold under the e360 and VPR 4Ever brands, along with related battery-management technology, monitoring capabilities, charging equipment, and accessories.