Short Interest in Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Decreases By 47.3%

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 155,577 shares, a decrease 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. Currently, 1.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Exodus Movement in a research report on Monday, June 15th. Benchmark dropped their target price on shares of Exodus Movement from $21.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Zacks Research upgraded shares of Exodus Movement from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Northland Securities set a $10.00 price target on Exodus Movement in a report on Wednesday, July 22nd. Finally, BTIG Research reduced their price target on Exodus Movement from $20.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. One research 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 MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $21.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXOD. FTX Recovery Trust bought a new stake in shares of Exodus Movement in the fourth quarter valued at about $26,969,000. Tidal Investments LLC increased its position in Exodus Movement by 2.7% during the third quarter. Tidal Investments LLC now owns 336,591 shares of the company’s stock worth $9,350,000 after acquiring an additional 9,002 shares during the period. Geode Capital Management LLC raised its stake in Exodus Movement by 16.5% in the 4th quarter. Geode Capital Management LLC now owns 136,353 shares of the company’s stock worth $2,017,000 after purchasing an additional 19,304 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Exodus Movement by 47.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,343 shares of the company’s stock valued at $3,010,000 after purchasing an additional 34,882 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Exodus Movement by 17,155.2% in the 1st quarter. Bank of America Corp DE now owns 33,475 shares of the company’s stock valued at $218,000 after purchasing an additional 33,281 shares during the period.

Exodus Movement Stock Up 0.6%

Exodus Movement stock traded up $0.03 during trading hours on Friday, hitting $5.37. The company had a trading volume of 17,626 shares, compared to its average volume of 36,221. Exodus Movement has a one year low of $4.57 and a one year high of $33.33. The firm has a 50-day moving average of $5.80 and a 200 day moving average of $8.38.

Exodus Movement (NYSEAMERICAN:EXOD) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.08) earnings per share (EPS) for the quarter. The firm had revenue of $22.75 million for the quarter. Exodus Movement had a negative return on equity of 11.78% and a negative net margin of 28.25%. As a group, analysts expect that Exodus Movement will post -1.37 EPS for the current year.

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.