Exodus Movement (NYSEAMERICAN:EXOD) Given New $16.00 Price Target at BTIG Research

Exodus Movement (NYSEAMERICAN:EXOD) had its price objective dropped by equities research analysts at BTIG Research from $20.00 to $16.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 122.66% from the company’s current price.

EXOD has been the topic of several other reports. Compass Point reiterated a “buy” rating and set a $19.00 target price on shares of Exodus Movement in a report on Thursday, March 12th. Benchmark dropped their target price on shares of Exodus Movement from $42.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Northland Securities set a $15.00 target price on shares of Exodus Movement in a report on Thursday, April 9th. Finally, Zacks Research cut shares of Exodus Movement from a “hold” rating to a “strong sell” rating in a report on Friday, March 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $23.50.

Exodus Movement Stock Down 6.8%

EXOD stock traded down $0.52 during trading on Tuesday, hitting $7.19. The company had a trading volume of 27,571 shares, compared to its average volume of 89,428. The firm has a market capitalization of $214.21 million, a P/E ratio of -11.19 and a beta of 1.90. Exodus Movement has a 52-week low of $5.89 and a 52-week high of $48.70. The company has a 50 day simple moving average of $8.13 and a 200-day simple moving average of $13.14.

Exodus Movement (NYSEAMERICAN:EXOD) last posted its quarterly earnings results 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 4.28% and a negative net margin of 9.34%. Sell-side analysts forecast that Exodus Movement will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Exodus Movement

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Exodus Movement by 42,971.4% in the 4th quarter. Royal Bank of Canada now owns 3,015 shares of the company’s stock valued at $44,000 after purchasing an additional 3,008 shares during the last quarter. State of Wyoming purchased a new position in shares of Exodus Movement in the 3rd quarter valued at approximately $58,000. Impact Partnership Wealth LLC purchased a new position in shares of Exodus Movement in the 1st quarter valued at approximately $66,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Exodus Movement by 39.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,491 shares of the company’s stock valued at $155,000 after purchasing an additional 2,951 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Exodus Movement by 20.2% in the 1st quarter. Bank of New York Mellon Corp now owns 24,526 shares of the company’s stock valued at $159,000 after purchasing an additional 4,124 shares during the last quarter.

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.