Brokerages Set Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Target Price at $23.50

Shares of Exodus Movement, Inc. (NYSEAMERICAN:EXOD) have been given a consensus recommendation of “Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.50.

A number of analysts have commented on the stock. Zacks Research cut shares of Exodus Movement from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Compass Point reiterated a “buy” rating and set a $19.00 price target on shares of Exodus Movement in a report on Thursday, March 12th. Northland Securities set a $15.00 price objective on Exodus Movement in a research note on Thursday, April 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Exodus Movement in a research report on Monday, June 15th. Finally, Benchmark decreased their target price on Exodus Movement from $42.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 12th.

Hedge Funds Weigh In On Exodus Movement

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Exodus Movement by 109.0% during the 2nd quarter. Geode Capital Management LLC now owns 121,757 shares of the company’s stock worth $3,511,000 after buying an additional 63,501 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Exodus Movement in the 2nd quarter valued at about $2,118,000. Tidal Investments LLC bought a new position in Exodus Movement in the 2nd quarter valued at about $9,444,000. Vident Advisory LLC acquired a new stake in Exodus Movement during the second quarter worth approximately $369,000. Finally, Millennium Management LLC lifted its position in 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 acquiring an additional 5,651 shares during the last quarter.

Exodus Movement Stock Up 6.5%

NYSEAMERICAN:EXOD opened at $5.10 on Thursday. The firm has a market capitalization of $153.05 million, a price-to-earnings ratio of -4.02 and a beta of 1.93. Exodus Movement has a twelve month low of $4.65 and a twelve month high of $39.93. The stock’s 50 day moving average price is $6.53 and its two-hundred day moving average price is $9.54.

Exodus Movement (NYSEAMERICAN:EXOD) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.08) EPS for the quarter. Exodus Movement had a negative net margin of 28.25% and a negative return on equity of 11.78%. The company had revenue of $22.75 million during the quarter. As a group, analysts anticipate that Exodus Movement will post -1.37 earnings per share for the current year.

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.