Corvex, Inc. (NASDAQ:MOVE) Stock Short Interest Rises 80.4%

Corvex, Inc. (NASDAQ:MOVE) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 492,331 shares, an increase of 80.4% from the September 15th total of 272,855 shares. Based on an average daily volume of 241,917 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.0% of the company’s stock are short sold.

Corvex Stock Performance

MOVE stock traded down $1.72 during midday trading on Thursday, reaching $7.17. 36,464 shares of the company’s stock traded hands, compared to its average volume of 562,311. The firm has a market capitalization of $226.26 million, a PE ratio of -0.38 and a beta of 0.87. The company has a 50-day moving average price of $11.22 and a two-hundred day moving average price of $14.89. Corvex has a 52 week low of $3.44 and a 52 week high of $26.72. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.80 and a current ratio of 1.80.

Corvex (NASDAQ:MOVE) last issued its earnings results on Friday, August 14th. The AI infrastructure company reported ($5.12) EPS for the quarter, missing the consensus estimate of ($3.17) by ($1.95). The business had revenue of $3.80 million during the quarter, compared to analyst estimates of $6.71 million. As a group, equities analysts anticipate that Corvex will post -0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research upgraded Corvex to a “hold” rating in a research note on Friday, September 18th. Weiss Ratings cut Corvex from a “sell (d)” rating to a “sell (e)” rating in a research note on Thursday, October 8th. Finally, 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. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.75.

Corvex Company Profile

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.