Exro Technologies Inc. (OTCMKTS:EXROF) Sees Significant Growth in Short Interest

Exro Technologies Inc. (OTCMKTS:EXROF) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 3,600,500 shares, a growth of 181.5% from the September 30th total of 1,279,000 shares. Based on an average daily volume of 485,000 shares, the days-to-cover ratio is currently 7.4 days.

Exro Technologies Trading Down 6.6 %

Shares of EXROF traded down $0.01 during mid-day trading on Friday, hitting $0.11. The company had a trading volume of 352,496 shares, compared to its average volume of 267,704. Exro Technologies has a 1-year low of $0.10 and a 1-year high of $1.40. The business’s 50-day simple moving average is $0.21 and its 200-day simple moving average is $0.36. The stock has a market cap of $45.07 million and a PE ratio of -0.48. The company has a quick ratio of 0.06, a current ratio of 0.33 and a debt-to-equity ratio of 0.07.

Exro Technologies (OTCMKTS:EXROF) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $3.85 million during the quarter, compared to analysts’ expectations of $16.75 million. Exro Technologies had a negative net margin of 711.32% and a negative return on equity of 77.42%. Sell-side analysts forecast that Exro Technologies will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, National Bank Financial downgraded Exro Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th.

Exro Technologies Company Profile

Exro Technologies Inc focuses on developing generation power-control electronics in Canada. The company offers Exro Coil Driver, which allows the motor to switch between different operational profiles in real-time, as well as have multiple gears for scooters, electric bikes, recreational, light electric cars, motorcycles, fleet vans, electric buses, passenger vehicles, long-haul trucks, and industrial vehicles markets; and Exro Cell Driver, a stationary energy storage system for commercial and industrial energy storage applications.