Exodus Movement (NYSEAMERICAN:EXOD) Stock Price Down 5.8% – Here’s Why

Exodus Movement, Inc. (NYSEAMERICAN:EXOD)’s share price was down 5.8% during trading on Thursday . The company traded as low as $16.67 and last traded at $17.3250. Approximately 59,566 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 104,773 shares. The stock had previously closed at $18.40.

Analysts Set New Price Targets

Several research firms recently commented on EXOD. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Exodus Movement in a research report on Thursday, December 18th. Zacks Research cut shares of Exodus Movement from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 26th. Benchmark reiterated a “buy” rating on shares of Exodus Movement in a research note on Tuesday, November 25th. BTIG Research decreased their price objective on shares of Exodus Movement from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Singular Research upgraded shares of Exodus Movement to a “strong-buy” rating in a research report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $46.71.

Exodus Movement Price Performance

The firm has a 50-day simple moving average of $15.99 and a 200-day simple moving average of $24.19. The firm has a market capitalization of $486.88 million, a PE ratio of 5.06 and a beta of 0.67.

Exodus Movement (NYSEAMERICAN:EXOD) last released its quarterly earnings results on Monday, November 10th. The company reported $0.53 EPS for the quarter. The firm had revenue of $30.34 million during the quarter. Exodus Movement had a net margin of 79.42% and a return on equity of 27.16%. Equities analysts expect that Exodus Movement, Inc. will post 1.62 earnings per share for the current year.

Institutional Investors Weigh In On Exodus Movement

A number of hedge funds have recently modified their holdings of EXOD. Floyd Financial Group LLC purchased a new stake in shares of Exodus Movement in the 2nd quarter worth $1,087,000. Geode Capital Management LLC grew its holdings 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 purchasing an additional 63,501 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Exodus Movement in the second quarter worth about $2,118,000. Tidal Investments LLC bought a new position in shares of Exodus Movement in the second quarter worth about $9,444,000. Finally, Vident Advisory LLC purchased a new position in shares of Exodus Movement during the 2nd quarter valued at about $369,000.

About Exodus Movement

Exodus Movement, Inc is a software company focused on developing user-friendly tools for managing digital assets. Its flagship product, the Exodus Wallet, is a non-custodial cryptocurrency wallet available on desktop and mobile platforms. The wallet enables users to secure, send, receive and exchange a broad range of digital currencies while retaining full control of their private keys. With built-in portfolio tracking and an integrated exchange feature powered by third-party liquidity providers, Exodus offers a one-stop interface for both newcomers and experienced crypto enthusiasts.

Since its initial release in mid-2016, Exodus has expanded support to over 100 cryptocurrencies and tokens, including major assets such as Bitcoin, Ethereum and Litecoin as well as numerous ERC-20 tokens.