Exodus Movement (NYSEAMERICAN:EXOD) Shares Down 10% - Time to Sell?

Key Points

• Exodus Movement's stock traded down by 10% on Tuesday, closing at $27.11, with a significant decline in trading volume of 87% compared to its average session.
• Multiple analysts have rated Exodus Movement stock with a consensus of "Buy" and an average price target of $58.00, with some analysts predicting targets as high as $65.00.
• Institutional investors have shown increasing interest, with notable stakes acquired by Geode Capital Management, which increased its ownership by 109% in the second quarter alone.

Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report) was down 10% during trading on Tuesday . The company traded as low as $27.11 and last traded at $27.11. Approximately 14,014 shares were traded during trading, a decline of 87% from the average daily volume of 108,416 shares. The stock had previously closed at $30.12.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EXOD shares. HC Wainwright upped their price objective on shares of Exodus Movement from $50.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. BTIG Research reaffirmed a "buy" rating on shares of Exodus Movement in a research note on Monday, May 12th. Northland Capmk raised shares of Exodus Movement to a "strong-buy" rating in a research note on Thursday, July 17th. Cantor Fitzgerald started coverage on shares of Exodus Movement in a research note on Friday. They set an "overweight" rating and a $45.00 price objective for the company. Finally, Keefe, Bruyette & Woods started coverage on shares of Exodus Movement in a research note on Friday, May 2nd. They set an "outperform" rating and a $65.00 price objective for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $56.14.

Exodus Movement Price Performance

The company has a market capitalization of $826.56 million, a price-to-earnings ratio of 10.37 and a beta of 0.24. The business has a fifty day moving average price of $31.39 and a 200 day moving average price of $38.58.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CWM LLC acquired a new position in shares of Exodus Movement in the 1st quarter valued at $158,000. Cannon Global Investment Management LLC acquired a new position in shares of Exodus Movement in the 1st quarter valued at $201,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Exodus Movement in the 1st quarter valued at $262,000. Invesco Ltd. acquired a new position in shares of Exodus Movement in the 1st quarter valued at $420,000. Finally, Vident Advisory LLC acquired a new position in shares of Exodus Movement in the 2nd quarter valued at $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.