Exodus Movement (NYSEAMERICAN:EXOD) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Exodus Movement from “strong sell” to “hold,” while other analysts remain more optimistic, with a consensus rating of “Buy” and an average price target of $23.50.
• The stock is trading weakly, opening at $5.18 and sitting well below its 50-day and 200-day moving averages, with a market cap of about $155.45 million.
• Recent financial results were negative: Exodus Movement reported a quarterly loss of $1.08 per share on revenue of $22.75 million, and analysts expect a full-year loss of $1.37 per share.

Exodus Movement (NYSEAMERICAN:EXOD - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on EXOD. Northland Securities set a $15.00 price objective on Exodus Movement in a research report on Thursday, April 9th. Cantor Fitzgerald restated an "overweight" rating on shares of Exodus Movement in a research note on Monday, June 15th. Finally, BTIG Research decreased their target price on Exodus Movement from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Two investment 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 company. According to MarketBeat.com, Exodus Movement has an average rating of "Buy" and a consensus target price of $23.50.

Exodus Movement Stock Down 0.2%

Shares of EXOD opened at $5.18 on Tuesday. The business's 50-day moving average price is $6.26 and its 200-day moving average price is $9.17. The stock has a market cap of $155.45 million, a PE ratio of -4.08 and a beta of 1.93. Exodus Movement has a twelve month low of $4.65 and a twelve month high of $39.93.

Exodus Movement (NYSEAMERICAN:EXOD - Get Free Report) 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 during the quarter. Exodus Movement had a negative return on equity of 11.78% and a negative net margin of 28.25%. Analysts expect that Exodus Movement will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of Exodus Movement

A number of hedge funds have recently made changes to their positions in the stock. Vontobel Holding Ltd. grew its position in Exodus Movement by 9.3% in the fourth quarter. Vontobel Holding Ltd. now owns 15,266 shares of the company's stock worth $226,000 after acquiring an additional 1,295 shares in the last quarter. Vident Advisory LLC raised its position in Exodus Movement by 10.8% during the fourth quarter. Vident Advisory LLC now owns 22,881 shares of the company's stock valued at $338,000 after purchasing an additional 2,229 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake 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 purchasing an additional 2,951 shares during the last quarter. Royal Bank of Canada lifted its stake 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 purchasing an additional 3,008 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Exodus Movement by 20.2% in the 1st quarter. Bank of New York Mellon Corp now owns 24,526 shares of the company's stock worth $159,000 after purchasing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.