Exodus Movement (NYSEAMERICAN:EXOD) Stock Price Down 7.4% – Here’s Why

Shares of Exodus Movement, Inc. (NYSEAMERICAN:EXOD) traded down 7.4% on Monday . The stock traded as low as $30.16 and last traded at $30.36. 35,208 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 102,960 shares. The stock had previously closed at $32.80.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Benchmark increased their price target on shares of Exodus Movement from $38.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. HC Wainwright lifted their target price on Exodus Movement from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods assumed coverage on shares of Exodus Movement in a research note on Friday, May 2nd. They set an “outperform” rating and a $65.00 price target on the stock. Finally, BTIG Research reaffirmed a “buy” rating on shares of Exodus Movement in a research note on Monday, May 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $59.60.

Exodus Movement Stock Performance

The company has a fifty day moving average price of $34.15 and a two-hundred day moving average price of $37.63. The company has a market cap of $878.76 million, a P/E ratio of 23.75 and a beta of 0.26.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EXOD. Cannon Global Investment Management LLC acquired a new stake in shares of Exodus Movement in the first quarter valued at approximately $201,000. CWM LLC bought a new stake in Exodus Movement during the 1st quarter valued at $158,000. Invesco Ltd. bought a new stake in Exodus Movement during the first quarter worth $420,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Exodus Movement in the 1st quarter valued at $262,000.

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.