Exodus Movement (NYSEAMERICAN:EXOD) Stock Price Down 6.4% Following Analyst Downgrade

Exodus Movement, Inc. (NYSEAMERICAN:EXOD)’s stock price traded down 6.4% 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. 93,035 shares changed hands during trading, a decline of 16% from the average session volume of 111,037 shares. The stock had previously closed at $21.29.

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

Hedge Funds Weigh In On Exodus Movement

A number of large investors have recently made changes to their positions in EXOD. CWM LLC purchased a new stake in shares of Exodus Movement during the 1st quarter worth approximately $158,000. Floyd Financial Group LLC purchased a new stake in Exodus Movement during the second quarter worth $1,087,000. OMERS ADMINISTRATION Corp purchased a new stake in Exodus Movement during the first quarter worth $262,000. Invesco Ltd. acquired a new stake in Exodus Movement in the first quarter valued at $420,000. Finally, Vontobel Holding Ltd. purchased a new position in shares of Exodus Movement in the third quarter valued at $388,000.

Exodus Movement Price Performance

The firm has a market cap of $573.26 million, a PE ratio of 6.02 and a beta of 0.11. The business has a 50-day moving average price of $26.74 and a two-hundred day moving average price of $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.