Exodus Movement (NYSEAMERICAN:EXOD) Trading Down 6.4% After Analyst Downgrade

Exodus Movement, Inc. (NYSEAMERICAN:EXOD) shares were down 6.4% during trading on Wednesday after Benchmark lowered their price target on the stock from $58.00 to $42.00. Benchmark currently has a buy rating on the stock. Exodus Movement traded as low as $19.45 and last traded at $19.92. Approximately 93,035 shares traded hands during trading, a decline of 16% from the average daily volume of 111,037 shares. The stock had previously closed at $21.29.

EXOD has been the subject of several other reports. Northland Securities began coverage on shares of Exodus Movement in a report on Thursday, July 17th. They set an “outperform” rating and a $50.00 price target for the company. Cantor Fitzgerald began coverage on shares of Exodus Movement in a report on Friday, August 15th. They set an “overweight” rating and a $45.00 price target for the company. BTIG Research cut their target price on Exodus Movement from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday. Northland Capmk raised Exodus Movement to a “strong-buy” rating in a research report on Thursday, July 17th. Finally, Zacks Research raised shares of Exodus Movement from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $53.86.

Institutional Investors Weigh In On Exodus Movement

A number of hedge funds and other institutional investors have recently modified their holdings of EXOD. State of Wyoming purchased a new position in Exodus Movement in the third quarter valued at approximately $58,000. CWM LLC purchased a new position in shares of Exodus Movement in the 1st quarter valued at $158,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Exodus Movement in the 1st quarter valued at $262,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Exodus Movement during the 3rd quarter worth $209,000. Finally, Hussman Strategic Advisors Inc. purchased a new stake in Exodus Movement in the third quarter valued at $233,000.

Exodus Movement Price Performance

The company has a market cap of $573.26 million, a price-to-earnings ratio of 6.02 and a beta of 0.11. The firm’s 50 day simple moving average is $26.74 and its 200-day simple moving average is $30.35.

Exodus Movement Company Profile

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.