Exodus Movement (NYSEAMERICAN:EXOD) Stock Price Down 4.3% - Time to Sell?

Key Points

• Exodus Movement's stock fell 4.3% to $27.57 on Monday, with a trading volume decline of 54% compared to average levels.
• Several analysts have given Exodus Movement positive ratings, including an "overweight" rating from Cantor Fitzgerald and a target price increase by HC Wainwright to $65.00.
• Institutional investors are increasing their stakes in Exodus Movement, with several firms making new acquisitions valued at up to $420,000 in the first half of the year.

Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report)'s share price fell 4.3% during mid-day trading on Monday . The stock traded as low as $27.50 and last traded at $27.57. 51,236 shares changed hands during trading, a decline of 54% from the average session volume of 110,587 shares. The stock had previously closed at $28.82.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EXOD. BTIG Research reaffirmed a "buy" rating on shares of Exodus Movement in a research report on Monday, May 12th. Cantor Fitzgerald began coverage on Exodus Movement in a research report on Friday, August 15th. They set an "overweight" rating and a $45.00 target price for the company. HC Wainwright raised their target price on Exodus Movement from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Northland Capmk raised Exodus Movement to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Keefe, Bruyette & Woods assumed coverage on Exodus Movement in a research note on Friday, May 2nd. They set an "outperform" rating and a $65.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $56.14.

Exodus Movement Stock Performance

The stock has a market capitalization of $783.82 million, a P/E ratio of 9.83 and a beta of 0.24. The stock has a 50-day moving average price of $30.90 and a two-hundred day moving average price of $38.33.

Institutional Investors Weigh In On Exodus Movement

A number of large investors have recently made changes to their positions in EXOD. Tidal Investments LLC bought a new stake in shares of Exodus Movement in the 2nd quarter worth approximately $9,444,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Exodus Movement during the second quarter valued at approximately $2,118,000. Geode Capital Management LLC boosted its position in shares of Exodus Movement by 109.0% during the second quarter. Geode Capital Management LLC now owns 121,757 shares of the company's stock valued at $3,511,000 after purchasing an additional 63,501 shares in the last quarter. Floyd Financial Group LLC bought a new stake in shares of Exodus Movement during the second quarter valued at approximately $1,087,000. Finally, Vident Advisory LLC bought a new stake in shares of Exodus Movement during the second quarter valued at approximately $369,000.

Exodus Movement Company Profile

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.