Exodus Movement (NYSEAMERICAN:EXOD) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research has downgraded Exodus Movement's stock rating from a "strong-buy" to a "hold" rating.
• Despite the downgrade, the company still holds an average rating of "Buy" with a price target of $56.14.
• Institutional investors have shown significant interest, with multiple hedge funds acquiring new stakes in Exodus Movement during the second quarter.

Exodus Movement (NYSEAMERICAN:EXOD - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Northland Capmk raised shares of Exodus Movement to a "strong-buy" rating in a research note on Thursday, July 17th. Northland Securities began coverage on shares of Exodus Movement in a research note on Thursday, July 17th. They set an "outperform" rating and a $50.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on shares of Exodus Movement in a research report on Friday, August 15th. They issued an "overweight" rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $56.14.

Exodus Movement Price Performance

Exodus Movement stock opened at $27.78 on Monday. Exodus Movement has a 12-month low of $14.77 and a 12-month high of $117.40. The stock has a market capitalization of $807.56 million, a P/E ratio of 9.99 and a beta of 0.19. The firm's 50-day moving average is $28.39 and its two-hundred day moving average is $34.10.

Institutional Investors Weigh In On Exodus Movement

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in shares of Exodus Movement in the second quarter worth approximately $9,444,000. Geode Capital Management LLC lifted its position in 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 buying an additional 63,501 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Exodus Movement during the second quarter valued at approximately $2,118,000. Floyd Financial Group LLC acquired a new position in Exodus Movement during the second quarter valued at approximately $1,087,000. Finally, Vident Advisory LLC acquired a new position in 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.

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