Exodus Movement (NYSEAMERICAN:EXOD) Shares Down 7.2% – What’s Next?

Shares of Exodus Movement, Inc. (NYSEAMERICAN:EXOD) traded down 7.2% during trading on Friday . The company traded as low as $6.01 and last traded at $6.21. 107,527 shares traded hands during trading, an increase of 46% from the average session volume of 73,759 shares. The stock had previously closed at $6.69.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Northland Securities set a $15.00 price target on Exodus Movement in a research note on Thursday, April 9th. BTIG Research cut their price target on Exodus Movement from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Benchmark cut their price objective on Exodus Movement from $42.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Compass Point reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Exodus Movement in a research note on Thursday, March 12th. Finally, Zacks Research raised Exodus Movement from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $23.50.

Exodus Movement Stock Down 7.2%

The stock has a 50 day moving average of $7.13 and a 200 day moving average of $11.10. The company has a market capitalization of $186.36 million, a price-to-earnings ratio of -4.89 and a beta of 1.72.

Exodus Movement (NYSEAMERICAN:EXOD) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.08) EPS for the quarter. The company had revenue of $22.75 million during the quarter. Exodus Movement had a negative return on equity of 11.78% and a negative net margin of 28.25%. As a group, sell-side analysts anticipate that Exodus Movement, Inc. will post -0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Exodus Movement

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in Exodus Movement by 87.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 19,568 shares of the company’s stock valued at $289,000 after buying an additional 9,106 shares during the period. Invesco Ltd. lifted its stake in Exodus Movement by 52.8% in the fourth quarter. Invesco Ltd. now owns 15,722 shares of the company’s stock valued at $233,000 after buying an additional 5,436 shares during the period. Vontobel Holding Ltd. lifted its stake in Exodus Movement by 9.3% in the fourth quarter. Vontobel Holding Ltd. now owns 15,266 shares of the company’s stock valued at $226,000 after buying an additional 1,295 shares during the period. Aristides Capital LLC acquired a new position in Exodus Movement in the fourth quarter valued at approximately $164,000. Finally, Royal Bank of Canada lifted its stake in Exodus Movement by 42,971.4% in the fourth quarter. Royal Bank of Canada now owns 3,015 shares of the company’s stock valued at $44,000 after buying an additional 3,008 shares during the period.

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.