Exodus Movement (NYSEAMERICAN:EXOD) Upgraded by Zacks Research to “Hold” Rating

Exodus Movement (NYSEAMERICAN:EXOD) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

EXOD has been the subject of several other reports. Benchmark cut their price objective on shares of Exodus Movement from $42.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. BTIG Research cut their price objective on shares of Exodus Movement from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday. Northland Securities set a $15.00 price objective on shares of Exodus Movement in a research report on Thursday, April 9th. Finally, Compass Point restated a “buy” rating and set a $19.00 price objective on shares of Exodus Movement in a research report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $23.50.

Exodus Movement Stock Down 9.6%

Shares of EXOD stock opened at $6.97 on Monday. The firm has a 50 day moving average price of $8.06 and a two-hundred day moving average price of $13.02. The company has a market capitalization of $207.78 million, a PE ratio of -5.49 and a beta of 1.90. Exodus Movement has a 12-month low of $5.89 and a 12-month high of $48.70.

Exodus Movement (NYSEAMERICAN:EXOD) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.08) earnings per share (EPS) for the quarter. The company had revenue of $22.75 million for the quarter. Exodus Movement had a negative return on equity of 11.19% and a negative net margin of 28.25%. As a group, research analysts expect that Exodus Movement will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Exodus Movement

A number of hedge funds and other institutional investors have recently made changes to their positions in EXOD. Royal Bank of Canada raised its position in shares of Exodus Movement by 42,971.4% in 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 in the last quarter. State of Wyoming acquired a new stake in shares of Exodus Movement in the third quarter valued at approximately $58,000. Impact Partnership Wealth LLC acquired a new stake in shares of Exodus Movement in the first quarter valued at approximately $66,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Exodus Movement by 39.1% in 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Exodus Movement by 20.2% in the first quarter. Bank of New York Mellon Corp now owns 24,526 shares of the company’s stock valued at $159,000 after buying an additional 4,124 shares in the last quarter.

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.