Short Interest in Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Declines By 38.5%

Key Points

• Exodus Movement’s short interest fell 38.5% to 226,870 shares as of August 14, representing 2.3% of shares outstanding and 2.9 days of average trading volume.
• Several institutions recently initiated or increased positions, including Bank of America and Royal Bank of Canada, signaling greater institutional involvement in the stock.
• The company reported a quarterly loss of $0.62 per share on $26.23 million in revenue, while analysts maintain an overall “Buy” rating with a consensus price target of $15.92 versus the stock’s reported $7.96 price.

Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 226,870 shares, a drop of 38.5% from the July 30th total of 368,780 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average trading volume of 79,001 shares, the short-interest ratio is currently 2.9 days.

Institutional Trading of Exodus Movement

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings 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 last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Exodus Movement in the 1st quarter valued at $66,000. Bank of New York Mellon Corp acquired a new stake in shares of Exodus Movement during the second quarter worth $125,000. Aristides Capital LLC bought a new position in Exodus Movement during the fourth quarter worth $164,000. Finally, Bank of America Corp DE raised its stake in Exodus Movement by 17,155.2% during the first quarter. Bank of America Corp DE now owns 33,475 shares of the company's stock worth $218,000 after buying an additional 33,281 shares during the last quarter.

Exodus Movement Stock Performance

NYSEAMERICAN:EXOD opened at $7.96 on Monday. The stock's 50-day moving average is $5.84 and its 200-day moving average is $7.24. The stock has a market cap of $240.39 million, a P/E ratio of -2.64 and a beta of 1.90. Exodus Movement has a 1-year low of $4.57 and a 1-year high of $32.92.

Exodus Movement (NYSEAMERICAN:EXOD - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.62) EPS for the quarter. The business had revenue of $26.23 million for the quarter. Exodus Movement had a negative return on equity of 36.07% and a negative net margin of 79.87%. As a group, equities analysts forecast that Exodus Movement will post -1.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Benchmark lowered 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. BTIG Research dropped their price objective on Exodus Movement from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Northland Securities set a $8.50 target price on Exodus Movement in a research report on Wednesday, August 12th. Zacks Research raised shares of Exodus Movement from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Finally, Cantor Fitzgerald raised their price target on shares of Exodus Movement from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $15.92.

Exodus Movement Company Profile

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.

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