Zacks Research Downgrades Exodus Movement (NYSEAMERICAN:EXOD) to Strong Sell

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

A number of other brokerages have also weighed in on EXOD. Benchmark reduced their price target on shares of 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. Northland Securities set a $15.00 price target on shares of Exodus Movement in a research note on Thursday, April 9th. Finally, BTIG Research reduced their price target on shares of 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 investment 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.com, the stock has a consensus rating of “Buy” and a consensus price target of $23.50.

Exodus Movement Stock Up 2.2%

Exodus Movement stock opened at $6.16 on Tuesday. The firm has a 50-day moving average price of $7.11 and a two-hundred day moving average price of $10.89. The firm has a market capitalization of $184.86 million, a price-to-earnings ratio of -4.85 and a beta of 1.72. Exodus Movement has a 52-week low of $5.74 and a 52-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 (EPS) for the quarter. The firm had revenue of $22.75 million for the quarter. Exodus Movement had a negative net margin of 28.25% and a negative return on equity of 11.78%. Research analysts expect that Exodus Movement will post -0.78 earnings per share for the current year.

Institutional Trading of Exodus Movement

A number of large investors have recently added to or reduced their stakes in EXOD. Royal Bank of Canada boosted its holdings 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 worth $44,000 after buying an additional 3,008 shares in the last quarter. State of Wyoming bought a new stake in Exodus Movement during the third quarter worth approximately $58,000. Impact Partnership Wealth LLC bought a new stake in Exodus Movement during the first quarter worth approximately $66,000. Hennion & Walsh Asset Management Inc. boosted its holdings 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 worth $155,000 after buying an additional 2,951 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Exodus Movement by 20.2% during the first quarter. Bank of New York Mellon Corp now owns 24,526 shares of the company’s stock worth $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.