Exodus Movement (NYSEAMERICAN:EXOD) CFO James Gernetzke Sells 5,579 Shares of Company Stock

Key Points

• CFO James Gernetzke sold 5,579 Exodus Movement shares for approximately $39,276, reducing his position by 1.20% to 458,409 shares. The sale was made to cover tax withholding obligations tied to vested equity awards.
• Exodus shares were trading at $6.86, near their 50- and 200-day moving averages, with a 12-month range of $4.57 to $32.21. The company reported a quarterly loss of $0.62 per share, $26.23 million in revenue, and a negative net margin of 79.87%.
• Analysts maintain a consensus “Buy” rating with a $15.25 price target, substantially above the current share price, although several firms recently lowered their targets.

Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report) CFO James Gernetzke sold 5,579 shares of the business's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $7.04, for a total value of $39,276.16. Following the sale, the chief financial officer directly owned 458,409 shares of the company's stock, valued at $3,227,199.36. This represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

James Gernetzke also recently made the following trade(s):

• On Thursday, September 3rd, James Gernetzke sold 5,682 shares of Exodus Movement stock. The stock was sold at an average price of $7.35, for a total value of $41,762.70.

Exodus Movement Stock Performance

Shares of NYSEAMERICAN EXOD traded up $0.01 during trading on Tuesday, hitting $6.86. The company had a trading volume of 20,965 shares, compared to its average volume of 83,417. Exodus Movement, Inc. has a 12 month low of $4.57 and a 12 month high of $32.21. The firm has a market capitalization of $207.17 million, a P/E ratio of -2.28 and a beta of 2.05. The stock has a 50 day simple moving average of $6.82 and a 200 day simple moving average of $6.64.

Exodus Movement (NYSEAMERICAN:EXOD - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.62) earnings per share (EPS) for the quarter. Exodus Movement had a negative net margin of 79.87% and a negative return on equity of 36.07%. The company had revenue of $26.23 million for the quarter. As a group, analysts predict that Exodus Movement, Inc. will post -1.54 EPS for the current year.

Hedge Funds Weigh In On Exodus Movement

Several institutional investors have recently added to or reduced their stakes in the company. FTX Recovery Trust purchased a new stake in shares of Exodus Movement during the 4th quarter worth approximately $26,969,000. Bank of New York Mellon Corp bought a new stake in Exodus Movement in the second quarter worth $125,000. Bank of America Corp DE raised its stake in Exodus Movement by 17,155.2% during the first quarter. Bank of America Corp DE now owns 33,475 shares of the company's stock valued at $218,000 after purchasing an additional 33,281 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in Exodus Movement during the first quarter valued at $66,000. Finally, Aristides Capital LLC bought a new position in Exodus Movement during the fourth quarter valued at $164,000.

Wall Street Analysts Forecast Growth

EXOD has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their target price on shares of Exodus Movement from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Zacks Research upgraded Exodus Movement from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Benchmark cut their target price on Exodus Movement from $21.00 to $12.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Northland Securities set a $8.50 target price on Exodus Movement in a research note on Wednesday, August 12th. Finally, BTIG Research lowered their price target on Exodus Movement from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.25.

Exodus Movement Company Profile

Exodus Movement, Inc develops and operates non-custodial cryptocurrency wallet software. Its products enable users to store, manage, send and receive digital assets while retaining control of their private keys. The company's wallet is available through desktop and mobile applications and supports a broad range of cryptocurrencies and blockchain networks.

In addition to wallet functionality, Exodus provides services that can include in-wallet cryptocurrency swaps, staking and access to decentralized applications and other Web3 features.

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