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

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 155,577 shares, a drop of 47.3% from the June 30th total of 295,129 shares. Based on an average trading volume of 60,963 shares, the short-interest ratio is currently 2.6 days. Approximately 1.6% of the company’s stock are short sold.

Exodus Movement Trading Up 4.9%

Shares of NYSEAMERICAN EXOD traded up $0.25 during trading hours on Thursday, reaching $5.34. The stock had a trading volume of 25,938 shares, compared to its average volume of 78,636. The firm has a market cap of $160.25 million, a price-to-earnings ratio of -4.20 and a beta of 1.93. Exodus Movement has a fifty-two week low of $4.57 and a fifty-two week high of $33.33. The firm has a 50-day moving average of $5.85 and a 200-day moving average of $8.45.

Exodus Movement (NYSEAMERICAN:EXOD) last released its quarterly earnings results on Monday, May 11th. The company reported ($1.08) EPS for the quarter. Exodus Movement had a negative return on equity of 11.78% and a negative net margin of 28.25%.The firm had revenue of $22.75 million for the quarter. On average, equities analysts predict that Exodus Movement will post -1.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EXOD shares. Zacks Research raised Exodus Movement from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Exodus Movement in a report on Monday, June 15th. Benchmark reduced their price objective on shares of Exodus Movement from $21.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Northland Securities set a $10.00 target price on shares of Exodus Movement in a report on Wednesday, July 22nd. Finally, BTIG Research dropped their target price on shares of Exodus Movement from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $21.17.

Hedge Funds Weigh In On Exodus Movement

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in Exodus Movement by 42,971.4% during the 4th quarter. Royal Bank of Canada now owns 3,015 shares of the company’s stock worth $44,000 after purchasing an additional 3,008 shares during the period. Impact Partnership Wealth LLC purchased a new stake in shares of Exodus Movement in the first quarter valued at about $66,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Exodus Movement by 39.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 10,491 shares of the company’s stock valued at $155,000 after buying an additional 2,951 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Exodus Movement by 20.2% during the first quarter. Bank of New York Mellon Corp now owns 24,526 shares of the company’s stock worth $159,000 after buying an additional 4,124 shares during the period. Finally, Aristides Capital LLC acquired a new stake in shares of Exodus Movement during the fourth quarter worth about $164,000.

About Exodus Movement

Exodus Movement, Inc is a software company focused on developing user-friendly tools for managing digital assets. Its flagship product, the Exodus Wallet, is a non-custodial cryptocurrency wallet available on desktop and mobile platforms. The wallet enables users to secure, send, receive and exchange a broad range of digital currencies while retaining full control of their private keys. With built-in portfolio tracking and an integrated exchange feature powered by third-party liquidity providers, Exodus offers a one-stop interface for both newcomers and experienced crypto enthusiasts.

Since its initial release in mid-2016, Exodus has expanded support to over 100 cryptocurrencies and tokens, including major assets such as Bitcoin, Ethereum and Litecoin as well as numerous ERC-20 tokens.