Exodus Movement (NYSEAMERICAN:EXOD) Stock Price Up 12.9% - What's Next?

Key Points

• Exodus Movement's stock surged by 12.9% to $32.22, although trading volume declined by 36% compared to its average.
• Recent upgrades from brokerages include a move from "hold" to "strong-buy" by Zacks Research, with an average consensus target price of $56.14.
• Large investments have recently been made by institutional investors in Exodus Movement, indicating growing confidence in the company's future prospects.

Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report) shares were up 12.9% during mid-day trading on Wednesday . The stock traded as high as $32.22 and last traded at $32.22. Approximately 70,566 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 110,482 shares. The stock had previously closed at $28.55.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXOD. Zacks Research upgraded Exodus Movement from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. Northland Capmk upgraded Exodus Movement to a "strong-buy" rating in a report on Thursday, July 17th. Northland Securities assumed 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. Finally, Cantor Fitzgerald began coverage on Exodus Movement in a research note on Friday, August 15th. They issued an "overweight" rating and a $45.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $56.14.

Exodus Movement Trading Up 13.2%

The company has a fifty day moving average price of $29.09 and a two-hundred day moving average price of $34.04. The firm has a market capitalization of $939.83 million, a price-to-earnings ratio of 11.63 and a beta of 0.19.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CWM LLC purchased a new position in shares of Exodus Movement in the first quarter worth approximately $158,000. Cannon Global Investment Management LLC bought a new position in Exodus Movement during the 1st quarter worth approximately $201,000. OMERS ADMINISTRATION Corp acquired a new stake in Exodus Movement during the 1st quarter worth approximately $262,000. Vident Advisory LLC bought a new position in shares of Exodus Movement in the second quarter valued at $369,000. Finally, Invesco Ltd. bought a new position in Exodus Movement during the first quarter worth $420,000.

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.

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