Exodus Movement (NYSEAMERICAN:EXOD) Shares Gap Up - Still a Buy?

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 traded.

Wall Street Analysts Forecast Growth

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

Exodus Movement Price Performance

The stock's fifty day moving average is $31.21 and its 200-day moving average is $39.27. The stock has a market cap of $821.68 million, a PE ratio of 22.21 and a beta of 0.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EXOD. Floyd Financial Group LLC purchased a new position in Exodus Movement in the 2nd quarter worth approximately $1,087,000. Invesco Ltd. acquired a new stake in shares of Exodus Movement during the 1st quarter valued at approximately $420,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Exodus Movement during the 1st quarter valued at approximately $262,000. Cannon Global Investment Management LLC acquired a new stake in Exodus Movement in the first quarter worth $201,000. Finally, CWM LLC acquired a new stake in Exodus Movement in the first quarter worth $158,000.

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.