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

Shares of Exodus Movement, Inc. (NYSEAMERICAN:EXOD) fell 5.8% on Thursday . The stock traded as low as $16.67 and last traded at $17.3250. 59,566 shares were traded during mid-day trading, a decline of 43% from the average session volume of 104,773 shares. The stock had previously closed at $18.40.

Wall Street Analyst Weigh In

A number of research firms have commented on EXOD. Zacks Research downgraded shares of Exodus Movement from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Singular Research raised shares of Exodus Movement to a “strong-buy” rating in a report on Tuesday, November 18th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Exodus Movement in a research note on Thursday, December 18th. Benchmark reaffirmed a “buy” rating on shares of Exodus Movement in a research report on Tuesday, November 25th. Finally, BTIG Research cut their price target on Exodus Movement from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $46.71.

Exodus Movement Stock Performance

The stock’s 50-day moving average is $16.19 and its 200 day moving average is $24.33. The stock has a market capitalization of $499.64 million, a PE ratio of 5.20 and a beta of 0.67.

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

Hedge Funds Weigh In On Exodus Movement

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in Exodus Movement during the 3rd quarter valued at approximately $58,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of Exodus Movement by 39.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 10,491 shares of the company’s stock worth $155,000 after purchasing an additional 2,951 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Exodus Movement by 46.5% during the third quarter. Millennium Management LLC now owns 17,812 shares of the company’s stock worth $495,000 after purchasing an additional 5,651 shares during the period. Vident Advisory LLC lifted its stake in shares of Exodus Movement by 61.4% in the 3rd quarter. Vident Advisory LLC now owns 20,652 shares of the company’s stock worth $574,000 after acquiring an additional 7,857 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new stake in Exodus Movement in the 3rd quarter valued at approximately $233,000.

Exodus Movement Company Profile

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.