Exodus Movement (NYSEAMERICAN:EXOD) Trading Down 7% - What's Next?

Key Points

• Shares of Exodus Movement, Inc. (NYSEAMERICAN: EXOD) fell 7% during mid-day trading, with the stock price decreasing from a previous close of $32.00 to a low of $29.69.
• Analysts have generally rated Exodus Movement positively, with a consensus rating of "Buy" and an average target price of $56.14, reflecting optimistic projections from multiple research firms.
• Several institutional investors have recently increased their positions in Exodus Movement, indicating growing interest and confidence in the company's future prospects.

Shares of Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report) dropped 7% during mid-day trading on Thursday . The company traded as low as $29.69 and last traded at $29.75. Approximately 27,381 shares were traded during trading, a decline of 75% from the average daily volume of 111,326 shares. The stock had previously closed at $32.00.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EXOD shares. Northland Securities began coverage on shares of Exodus Movement in a report on Thursday, July 17th. They issued an "outperform" rating and a $50.00 price target on the stock. Northland Capmk raised shares of Exodus Movement to a "strong-buy" rating in a research note on Thursday, July 17th. Zacks Research upgraded shares of Exodus Movement from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. Finally, Cantor Fitzgerald began coverage on shares of Exodus Movement in a report on Friday, August 15th. They issued an "overweight" rating and a $45.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $56.14.

Exodus Movement Stock Down 8.6%

The stock has a market capitalization of $850.59 million, a price-to-earnings ratio of 10.53 and a beta of 0.19. The company's 50-day moving average is $28.96 and its 200-day moving average is $33.98.

Hedge Funds Weigh In On Exodus Movement

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