Corvex, Inc. (NASDAQ:MOVE) Stock Short Interest Rises 80.4%

Corvex, Inc. (NASDAQ:MOVE) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 492,331 shares, a growth of 80.4% from the September 15th total of 272,855 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average trading volume of 241,917 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MOVE shares. Zacks Research raised Corvex to a “hold” rating in a report on Friday, September 18th. Chardan Capital set a $18.75 price target on Corvex and gave the company a “buy” rating in a research note on Wednesday, September 16th. Finally, Weiss Ratings cut Corvex from a “sell (d)” rating to a “sell (e)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.75.

Corvex Trading Down 4.8%

MOVE traded down $0.40 during trading on Friday, reaching $8.01. 54,800 shares of the company’s stock were exchanged, compared to its average volume of 560,441. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 4.28. Corvex has a one year low of $3.44 and a one year high of $26.72. The firm has a fifty day moving average price of $11.15 and a two-hundred day moving average price of $14.82. The stock has a market capitalization of $252.72 million, a PE ratio of -0.42 and a beta of 0.87.

Corvex (NASDAQ:MOVE) last released its quarterly earnings results on Friday, August 14th. The AI infrastructure company reported ($5.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, equities research analysts forecast that Corvex will post -0.53 earnings per share for the current fiscal year.

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.