Exodus Movement (NYSEAMERICAN:EXOD) Stock Price Down 4.2% - Here's What Happened

Key Points

• Exodus Movement's stock price dropped 4.2% to $27.18, with trading volume decreasing by 76% from its average session volume.
• The company received several upgrades, including a "strong-buy" rating from Zacks Research and a price target of up to $56.14.
• Exodus Movement has attracted new investments from institutional investors, with several buying stakes in the first quarter of the year.

Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report)'s stock price fell 4.2% during mid-day trading on Monday . The company traded as low as $27.00 and last traded at $27.18. 26,053 shares were traded during trading, a decline of 76% from the average session volume of 109,744 shares. The stock had previously closed at $28.36.

Analyst Upgrades and Downgrades

Several research firms have commented on EXOD. Northland Securities initiated coverage on shares of Exodus Movement in a research note on Thursday, July 17th. They issued an "outperform" rating and a $50.00 price target for the company. Cantor Fitzgerald started coverage on Exodus Movement in a report on Friday, August 15th. They issued an "overweight" rating and a $45.00 target price for the company. Zacks Research raised shares of Exodus Movement from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Finally, Northland Capmk raised Exodus Movement to a "strong-buy" rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $56.14.

Exodus Movement Stock Performance

The company's fifty day moving average price is $29.52 and its 200 day moving average price is $34.92. The firm has a market capitalization of $810.47 million, a price-to-earnings ratio of 10.03 and a beta of 0.21.

Hedge Funds Weigh In On Exodus Movement

Several institutional investors have recently modified their holdings of the company. CWM LLC bought a new stake in Exodus Movement in the 1st quarter valued at about $158,000. Cannon Global Investment Management LLC acquired a new stake in shares of Exodus Movement in the first quarter valued at approximately $201,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Exodus Movement during the first quarter valued at approximately $262,000. Invesco Ltd. acquired a new position in shares of Exodus Movement during the first quarter worth approximately $420,000. Finally, Vident Advisory LLC bought a new position in Exodus Movement in the 2nd quarter worth approximately $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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