Corvex, Inc. (NASDAQ:MOVE) Short Interest Up 61.9% in August

Corvex, Inc. (NASDAQ:MOVE) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 191,060 shares, a growth of 61.9% from the August 15th total of 118,037 shares. Based on an average trading volume of 671,808 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.9% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MOVE shares. Chardan Capital set a $18.75 price target on shares of Corvex and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen raised shares of Corvex from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Finally, Weiss Ratings upgraded Corvex from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.75.

Corvex Trading Down 7.4%

Shares of Corvex stock traded down $0.81 during midday trading on Thursday, reaching $10.11. The company had a trading volume of 235,214 shares, compared to its average volume of 608,241. The stock has a fifty day moving average price of $12.20 and a 200 day moving average price of $15.32. Corvex has a fifty-two week low of $3.44 and a fifty-two week high of $26.72. The firm has a market cap of $318.99 million, a PE ratio of -0.54 and a beta of 0.90. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.80 and a quick ratio of 1.80.

Corvex (NASDAQ:MOVE) last released its earnings results on Friday, August 14th. The AI infrastructure company reported ($5.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.17) by ($1.95). The business had revenue of $3.80 million for the quarter, compared to analyst estimates 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.