Exodus Movement (NYSEAMERICAN:EXOD) Rating Increased to Hold at Zacks Research

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

Several other research firms have also issued reports on EXOD. BTIG Research cut 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 report on Tuesday, May 12th. Northland Securities set a $15.00 price objective on Exodus Movement in a report on Thursday, April 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Exodus Movement in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Exodus Movement currently has a consensus rating of “Buy” and a consensus price target of $23.50.

Exodus Movement Stock Performance

Shares of EXOD opened at $5.18 on Tuesday. The firm has a market cap of $155.45 million, a price-to-earnings ratio of -4.08 and a beta of 1.93. Exodus Movement has a fifty-two week low of $4.65 and a fifty-two week high of $39.93. The firm has a 50 day moving average price of $6.26 and a 200-day moving average price of $9.17.

Exodus Movement (NYSEAMERICAN:EXOD) last released its earnings results on Monday, May 11th. The company reported ($1.08) EPS for the quarter. The business 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%. As a group, equities research analysts predict that Exodus Movement will post -1.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. FTX Recovery Trust purchased a new stake in Exodus Movement during the 4th quarter valued at $26,969,000. Tidal Investments LLC bought a new stake in Exodus Movement in the 2nd quarter worth $9,444,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Exodus Movement in the second quarter valued at about $2,118,000. Geode Capital Management LLC increased its position in shares of Exodus Movement by 109.0% in the second quarter. Geode Capital Management LLC now owns 121,757 shares of the company’s stock valued at $3,511,000 after acquiring an additional 63,501 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Exodus Movement by 17,155.2% during the first quarter. Bank of America Corp DE now owns 33,475 shares of the company’s stock valued at $218,000 after acquiring an additional 33,281 shares during 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.