Expion360 Inc. (NASDAQ:XPON) Sees Significant Decline in Short Interest

Expion360 Inc. (NASDAQ:XPON) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 61,372 shares, a decline of 63.0% from the September 15th total of 166,089 shares. Based on an average daily volume of 72,206 shares, the days-to-cover ratio is presently 0.8 days. Approximately 6.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Expion360 stock. Kingsbury Capital Investment Advisors LLC grew its position in Expion360 Inc. (NASDAQ:XPON) by 399.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 152,152 shares of the company’s stock after buying an additional 121,692 shares during the period. Kingsbury Capital Investment Advisors LLC owned 15.82% of Expion360 worth $68,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 34.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Expion360 in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Expion360 Stock Performance

XPON opened at $3.97 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.41 and a current ratio of 5.55. Expion360 has a 1-year low of $2.77 and a 1-year high of $20.64. The firm has a 50-day moving average price of $4.82 and a two-hundred day moving average price of $5.73.

Expion360 (NASDAQ:XPON) last announced its earnings results on Friday, August 7th. The company reported ($1.34) earnings per share (EPS) for the quarter. Expion360 had a negative return on equity of 102.32% and a negative net margin of 82.32%. The company had revenue of $2.03 million for the quarter.

Expion360 Company Profile

Expion360, Inc is a lithium battery technology company focused on energy-storage solutions for recreational vehicles, marine applications, and other mobile and off-grid uses. The company designs and markets lithium iron phosphate (LiFePO4) battery systems intended to provide longer service life, lower weight, and greater usable capacity than conventional lead-acid batteries.

Its product portfolio includes 12-volt lithium batteries and battery systems sold under the e360 and VPR 4Ever brands, along with related battery-management technology, monitoring capabilities, charging equipment, and accessories.