Exodus Movement (NYSEAMERICAN:EXOD) Shares Down 7% - Should You Sell?

Key Points

• Exodus Movement's stock declined by 7%, closing at $29.47 after trading as low as $29.42. This represents a 36% decrease in trading volume compared to the average session.
• Analysts maintain a generally positive outlook with an average rating of "Buy" and a consensus price target of $56.14, despite one downgrade from Zacks Research to a "Hold" rating.
• The company's market capitalization stands at $872.54 million with a price-to-earnings ratio of 10.85, indicating potential investment value in the blockchain sector.

Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report)'s stock price traded down 7% during trading on Tuesday . The company traded as low as $29.42 and last traded at $29.47. 71,016 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 110,857 shares. The stock had previously closed at $31.70.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EXOD. Northland Securities began coverage on shares of Exodus Movement in a research report on Thursday, July 17th. They issued an "outperform" rating and a $50.00 target price on the stock. Cantor Fitzgerald started coverage on shares of Exodus Movement in a research note on Friday, August 15th. They issued an "overweight" rating and a $45.00 target price for the company. Northland Capmk upgraded shares of Exodus Movement to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Zacks Research cut shares of Exodus Movement from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Exodus Movement has an average rating of "Buy" and a consensus price target of $56.14.

Exodus Movement Price Performance

The company has a market cap of $872.54 million, a price-to-earnings ratio of 10.85 and a beta of 0.18. The business's 50-day simple moving average is $28.13 and its 200-day simple moving average is $33.78.

Institutional Investors Weigh In On Exodus Movement

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC purchased a new stake in Exodus Movement in the first quarter valued at approximately $158,000. Cannon Global Investment Management LLC acquired a new position in shares of Exodus Movement during the first quarter worth $201,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Exodus Movement during the first quarter worth $262,000. Vident Advisory LLC acquired a new position in shares of Exodus Movement during the second quarter worth $369,000. Finally, Invesco Ltd. acquired a new position in shares of Exodus Movement during the first quarter worth $420,000.

About Exodus Movement

Exodus Movement, Inc develops blockchain asset investors platform to secure, exchange and manage wealth inside one application. The company was founded by Daniel Castagnoli and Jon Paul Richardson in 2015 and is headquartered in Omaha, NE.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.