Exodus Movement (NYSEAMERICAN:EXOD) Downgraded by Zacks Research to “Strong Sell”

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

A number of other research firms have also recently weighed in on EXOD. BTIG Research decreased their target price on shares of Exodus Movement from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Benchmark reduced their price objective on shares of Exodus Movement from $42.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Northland Securities set a $15.00 price objective on shares of Exodus Movement in a research note on Thursday, April 9th. Finally, Compass Point reissued a “buy” rating and issued a $19.00 price objective on shares of Exodus Movement in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $23.50.

Exodus Movement Stock Performance

NYSEAMERICAN EXOD opened at $6.16 on Tuesday. The firm’s fifty day moving average price is $7.11 and its two-hundred day moving average price is $10.89. The stock has a market cap of $184.86 million, a PE ratio of -4.85 and a beta of 1.72. Exodus Movement has a fifty-two week low of $5.74 and a fifty-two week high of $39.93.

Exodus Movement (NYSEAMERICAN:EXOD) last posted its earnings results on Monday, May 11th. The company reported ($1.08) earnings per share for the quarter. The company had revenue of $22.75 million for the quarter. Exodus Movement had a negative return on equity of 11.78% and a negative net margin of 28.25%. As a group, sell-side analysts predict that Exodus Movement will post -0.78 earnings per share for the current fiscal year.

Institutional Trading of Exodus Movement

Several institutional investors have recently modified their holdings of EXOD. Royal Bank of Canada grew its stake 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 worth $44,000 after purchasing an additional 3,008 shares during the last quarter. State of Wyoming acquired a new position in Exodus Movement in the third quarter valued at $58,000. Impact Partnership Wealth LLC acquired a new position in Exodus Movement in the first quarter valued at $66,000. Hennion & Walsh Asset Management Inc. lifted its holdings in 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 during the period. Finally, Bank of New York Mellon Corp lifted its holdings in 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 during the period.

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.