Cantor Fitzgerald Forecasts Strong Price Appreciation for Exodus Movement (NYSEAMERICAN:EXOD) Stock

Exodus Movement (NYSEAMERICAN:EXOD) had its price objective upped by analysts at Cantor Fitzgerald from $15.00 to $16.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price indicates a potential upside of 269.52% from the stock’s current price.

A number of other research analysts also recently issued reports on EXOD. Benchmark reduced their price objective on Exodus Movement from $21.00 to $12.00 and set a “buy” rating for the company in a research note 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 reduced their price target on shares of Exodus Movement from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given 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 $15.08.

Exodus Movement Stock Up 6.1%

Shares of NYSEAMERICAN EXOD opened at $4.33 on Thursday. Exodus Movement has a twelve month low of $3.78 and a twelve month high of $22.25. The stock’s 50 day moving average price is $6.14 and its 200-day moving average price is $7.24. The company has a market capitalization of $130.77 million, a PE ratio of -1.14 and a beta of 2.24.

Exodus Movement (NYSEAMERICAN:EXOD) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.24). The business had revenue of $32.54 million for the quarter. Exodus Movement had a negative net margin of 101.08% and a negative return on equity of 51.76%. As a group, research analysts expect that Exodus Movement will post -1.54 EPS for the current fiscal year.

Insider Activity

In other Exodus Movement news, CFO James Gernetzke sold 5,682 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $7.35, for a total value of $41,762.70. Following the completion of the sale, the chief financial officer owned 463,988 shares in the company, valued at approximately $3,410,311.80. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 20,036 shares of company stock worth $150,568. Insiders own 67.67% of the company’s stock.

Hedge Funds Weigh In On Exodus Movement

An institutional investor recently raised its stake in Exodus Movement stock. Bank of America Corp DE raised its position in Exodus Movement, Inc. (NYSEAMERICAN:EXOD) by 17,155.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,475 shares of the company’s stock after purchasing an additional 33,281 shares during the quarter. Bank of America Corp DE owned about 0.11% of Exodus Movement worth $218,000 as of its most recent SEC filing.

Exodus Movement Company Profile

Exodus Movement, Inc. develops and operates a non-custodial cryptocurrency wallet platform. Its software enables users to manage, store, send and receive digital assets while retaining control of their private keys. The company’s products are designed for individuals seeking to interact with cryptocurrencies and other blockchain-based assets without relying on a centralized exchange to hold their funds. Exodus offers wallet applications for desktop and mobile devices, along with browser-based tools.