Exodus Movement (NYSEAMERICAN:EXOD) Shares Down 7.2% – Should You Sell?

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

Wall Street Analyst Weigh In

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

Exodus Movement Price Performance

The business has a 50 day moving average of $7.13 and a 200 day moving average of $11.10. The company has a market cap of $186.36 million, a PE ratio of -4.89 and a beta of 1.72.

Exodus Movement (NYSEAMERICAN:EXOD) last announced its quarterly earnings results on Monday, May 11th. The company reported ($1.08) EPS for the quarter. The business 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%. Sell-side analysts forecast that Exodus Movement, Inc. will post -0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Exodus Movement

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Exodus Movement during the third quarter valued at $58,000. Royal Bank of Canada lifted its position in Exodus Movement by 42,971.4% during 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. Impact Partnership Wealth LLC purchased a new position in Exodus Movement during the first quarter valued at $66,000. Hennion & Walsh Asset Management Inc. lifted its position in Exodus Movement by 39.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 10,491 shares of the company’s stock valued at $155,000 after buying an additional 2,951 shares during the period. Finally, Aristides Capital LLC purchased a new position in Exodus Movement during the fourth quarter valued at $164,000.

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.