Corvex, Inc. (NASDAQ:MOVE) Short Interest Update

Key Points

• Short interest rose 61.9% to 191,060 shares as of August 31, representing approximately 0.9% of shares outstanding; the short-interest ratio is 0.3 days.
• Analyst sentiment is mixed, with one Buy and one Sell rating producing an overall “Hold” consensus and an average price target of $18.75.
• Shares fell to $10.11, well below the 50-day and 200-day moving averages, after the company reported a quarterly EPS loss of $5.12 and revenue of $3.8 million, missing analyst expectations.

Corvex, Inc. (NASDAQ:MOVE - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 191,060 shares, an increase of 61.9% from the August 15th total of 118,037 shares. Based on an average trading volume of 671,808 shares, the short-interest ratio is currently 0.3 days. Approximately 0.9% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research firms recently commented on MOVE. Weiss Ratings raised Corvex from a "sell (d-)" rating to a "sell (d)" rating in a research note on Thursday, September 3rd. Chardan Capital set a $18.75 target price on shares of Corvex and gave the company a "buy" rating in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Corvex from a "sell" rating to a "hold" rating in a research report on Sunday, May 24th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $18.75.

Corvex Price Performance

Shares of MOVE stock traded down $0.81 on Thursday, hitting $10.11. 235,214 shares of the company's stock were exchanged, compared to its average volume of 608,241. Corvex has a 12 month low of $3.44 and a 12 month high of $26.72. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.80 and a quick ratio of 1.80. The company has a 50 day moving average of $12.20 and a 200 day moving average of $15.32. The stock has a market cap of $318.99 million, a P/E ratio of -0.54 and a beta of 0.90.

Corvex (NASDAQ:MOVE - Get Free Report) last posted its earnings results on Friday, August 14th. The AI infrastructure company reported ($5.12) EPS for the quarter, missing analysts' consensus estimates of ($3.17) by ($1.95). The firm had revenue of $3.80 million for the quarter, compared to analysts' expectations of $6.71 million.

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.

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