Exodus Movement (NYSEAMERICAN:EXOD) Shares Gap Up - Here's What Happened

Key Points

• Exodus Movement's stock gapped up from $28.38 to $31.00 at the opening, currently trading at $29.01 with a market cap of $832.01 million.
• Multiple analysts have given the stock a consensus rating of "Buy" with an average price target of $58.00, indicating strong market confidence.
• Large institutional investors have recently increased their stakes in Exodus Movement, signaling growing interest in the company.

Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $28.38, but opened at $31.00. Exodus Movement shares last traded at $29.01, with a volume of 9,687 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on EXOD. Northland Securities initiated coverage on Exodus Movement in a research report on Thursday, July 17th. They set an "outperform" rating and a $50.00 price target on the stock. HC Wainwright raised their price objective on shares of Exodus Movement from $50.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. BTIG Research restated a "buy" rating on shares of Exodus Movement in a research report on Monday, May 12th. Northland Capmk upgraded Exodus Movement to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Exodus Movement in a report on Friday, May 2nd. They issued an "outperform" rating and a $65.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $58.00.

Exodus Movement Stock Performance

The business has a 50-day moving average of $31.30 and a 200-day moving average of $39.07. The stock has a market capitalization of $890.23 million, a price-to-earnings ratio of 24.06 and a beta of 0.24.

Institutional Trading of Exodus Movement

Several large investors have recently modified their holdings of the business. CWM LLC purchased a new stake in Exodus Movement in the 1st quarter valued at about $158,000. Cannon Global Investment Management LLC acquired a new position in shares of Exodus Movement in the 1st quarter valued at approximately $201,000. Geode Capital Management LLC boosted its holdings in Exodus Movement by 109.0% in the second quarter. Geode Capital Management LLC now owns 121,757 shares of the company's stock worth $3,511,000 after purchasing an additional 63,501 shares during the period. Floyd Financial Group LLC acquired a new position in Exodus Movement during the 2nd quarter worth $1,087,000. Finally, Invesco Ltd. acquired a new stake in Exodus Movement in the first quarter worth about $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.