Exodus Movement (NYSEAMERICAN:EXOD) Shares Gap Up - Should You Buy?

Key Points

• Exodus Movement, Inc. shares opened at $31.48 after previously closing at $30.07, indicating a positive momentum in trading.
• Analyst ratings for Exodus Movement are predominantly positive, with one strong buy, seven buy ratings, and a consensus price target of $56.14.
• Numerous hedge funds have significantly increased their stakes in Exodus Movement, highlighting growing institutional interest in the company.

Shares of Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $30.07, but opened at $31.48. Exodus Movement shares last traded at $30.49, with a volume of 10,518 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Northland Securities began 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. Northland Capmk upgraded Exodus Movement to a "strong-buy" rating in a research note on Thursday, July 17th. Cantor Fitzgerald began coverage on Exodus Movement in a research note on Friday, August 15th. They set an "overweight" rating and a $45.00 price objective for the company. Finally, Zacks Research cut Exodus Movement from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Exodus Movement has a consensus rating of "Buy" and a consensus price target of $56.14.

Exodus Movement Price Performance

The company has a 50 day moving average price of $28.11 and a two-hundred day moving average price of $33.72. The stock has a market cap of $862.51 million, a PE ratio of 10.67 and a beta of 0.18.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CWM LLC purchased a new position in shares of Exodus Movement in the first quarter worth $158,000. Cannon Global Investment Management LLC bought a new stake in shares of Exodus Movement in the first quarter worth $201,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Exodus Movement in the first quarter worth $262,000. Invesco Ltd. bought a new stake in shares of Exodus Movement in the first quarter worth $420,000. Finally, Vident Advisory LLC bought a new stake in shares of Exodus Movement in the second quarter worth $369,000.

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.

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