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

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 296,898 shares, a decrease of 14.5% from the March 15th total of 347,433 shares. Currently, 3.1% of the shares of the company are sold short. Based on an average daily volume of 122,904 shares, the days-to-cover ratio is presently 2.4 days.

Exodus Movement Trading Up 9.6%

Shares of Exodus Movement stock traded up $0.70 on Friday, reaching $7.98. The stock had a trading volume of 88,119 shares, compared to its average volume of 78,583. Exodus Movement has a 1 year low of $5.89 and a 1 year high of $56.00. The company has a market cap of $237.88 million, a P/E ratio of -12.47 and a beta of 2.03. The business’s 50 day moving average is $8.81 and its two-hundred day moving average is $15.32.

Exodus Movement (NYSEAMERICAN:EXOD) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($1.69) earnings per share (EPS) for the quarter. The firm had revenue of $29.39 million during the quarter. Exodus Movement had a negative return on equity of 4.28% and a negative net margin of 9.34%. On average, equities analysts anticipate that Exodus Movement will post 1.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EXOD. FTX Recovery Trust bought a new position in shares of Exodus Movement in the fourth quarter worth approximately $26,969,000. Tidal Investments LLC bought a new position in shares of Exodus Movement in the second quarter worth approximately $9,444,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Exodus Movement in the second quarter worth approximately $2,118,000. Geode Capital Management LLC increased its position in shares of Exodus Movement by 109.0% in the second quarter. Geode Capital Management LLC now owns 121,757 shares of the company’s stock worth $3,511,000 after purchasing an additional 63,501 shares during the last quarter. Finally, Alps Advisors Inc. bought a new position in shares of Exodus Movement in the third quarter worth approximately $447,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. BTIG Research dropped their price objective on shares of Exodus Movement from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Zacks Research downgraded shares of Exodus Movement from a “hold” rating to a “strong sell” rating in a report on Friday, March 13th. Benchmark lowered their price target on shares of Exodus Movement from $42.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Northland Securities set a $15.00 price target on shares of Exodus Movement in a report on Thursday, April 9th. Finally, Compass Point reissued a “buy” rating and issued a $19.00 price target on shares of Exodus Movement in a report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $30.00.

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.