Exodus Movement, Inc. (NYSEAMERICAN:EXOD) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Analysts maintain a consensus “Buy” rating on Exodus Movement, with five buy ratings, one strong buy and one hold. The average 12-month price target is $21.17, although several firms recently lowered their targets.
• Institutional ownership increased, including new positions or expanded stakes from FTX Recovery Trust, Geode Capital Management, Mirae Asset Global ETFs and Bank of America.
• EXOD opened at $5.17 and remains well below its 12-month high of $34.06. The company reported a quarterly loss of $1.08 per share on $22.75 million in revenue and continues to have negative profitability metrics.

Shares of Exodus Movement, Inc. (NYSEAMERICAN:EXOD - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $21.1667.

Several analysts recently commented on EXOD shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Exodus Movement in a research note on Monday, June 15th. Benchmark dropped their price objective on Exodus Movement from $21.00 to $12.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Zacks Research raised Exodus Movement from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. BTIG Research cut their price objective on Exodus Movement from $20.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Finally, Northland Securities set a $10.00 target price on shares of Exodus Movement in a research note on Wednesday.

Hedge Funds Weigh In On Exodus Movement

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXOD. FTX Recovery Trust bought a new stake in Exodus Movement during the fourth quarter worth about $26,969,000. Tidal Investments LLC raised its stake in shares of Exodus Movement by 2.7% in the third quarter. Tidal Investments LLC now owns 336,591 shares of the company's stock valued at $9,350,000 after acquiring an additional 9,002 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Exodus Movement by 16.5% in the 4th quarter. Geode Capital Management LLC now owns 136,353 shares of the company's stock worth $2,017,000 after acquiring an additional 19,304 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Exodus Movement by 47.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,343 shares of the company's stock worth $3,010,000 after acquiring an additional 34,882 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Exodus Movement by 17,155.2% during the 1st quarter. Bank of America Corp DE now owns 33,475 shares of the company's stock worth $218,000 after acquiring an additional 33,281 shares during the last quarter.

Exodus Movement Price Performance

Shares of EXOD opened at $5.17 on Monday. The company has a 50-day moving average price of $5.96 and a two-hundred day moving average price of $8.68. The stock has a market cap of $155.15 million, a price-to-earnings ratio of -4.07 and a beta of 1.93. Exodus Movement has a 12 month low of $4.57 and a 12 month high of $34.06.

Exodus Movement (NYSEAMERICAN:EXOD - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.08) earnings per share 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. Equities research analysts expect that Exodus Movement will post -1.37 EPS for the current fiscal 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.

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