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) shares were down 4.3% on Monday . The company traded as low as $27.50 and last traded at $27.57. Approximately 51,236 shares changed hands during trading, a decline of 54% from the average daily volume of 110,587 shares. The stock had previously closed at $28.82.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EXOD. Cantor Fitzgerald assumed coverage on Exodus Movement in a research report on Friday. They set an "overweight" rating and a $45.00 price objective for the company. BTIG Research reissued a "buy" rating on shares of Exodus Movement in a research report on Monday, May 12th. Northland Securities began coverage on Exodus Movement in a research report on Thursday, July 17th. They issued an "outperform" rating and a $50.00 price objective on the stock. HC Wainwright lifted their target price on Exodus Movement from $50.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Northland Capmk upgraded Exodus Movement to a "strong-buy" rating in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $56.14.

Exodus Movement Trading Down 7.8%

The company has a 50-day simple moving average of $31.39 and a 200 day simple moving average of $38.68. The company has a market cap of $762.31 million, a P/E ratio of 9.56 and a beta of 0.24.

Institutional Trading of Exodus Movement

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