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

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

EXOD has been the subject of a number of other reports. Benchmark dropped 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 report on Thursday, March 12th. BTIG Research dropped 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. Compass Point restated a “buy” rating and set a $19.00 price objective on shares of Exodus Movement in a research report on Thursday, March 12th. Finally, Northland Securities set a $15.00 price objective on shares of Exodus Movement in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $23.50.

Exodus Movement Trading Up 2.2%

NYSEAMERICAN EXOD opened at $6.16 on Tuesday. Exodus Movement has a 1-year low of $5.74 and a 1-year high of $39.93. The company has a 50 day moving average of $7.11 and a 200-day moving average of $10.89. The company has a market cap of $184.86 million, a price-to-earnings ratio of -4.85 and a beta of 1.72.

Exodus Movement (NYSEAMERICAN:EXOD) last released its quarterly earnings results 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 business had revenue of $22.75 million during the quarter. On average, equities research analysts forecast that Exodus Movement will post -0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in 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 purchasing an additional 33,281 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 during the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Exodus Movement during the first quarter worth $66,000. Aristides Capital LLC bought a new stake in shares of Exodus Movement during the fourth quarter worth $164,000. Finally, Invesco Ltd. grew its stake in shares of Exodus Movement by 52.8% during the fourth quarter. Invesco Ltd. now owns 15,722 shares of the company’s stock worth $233,000 after buying an additional 5,436 shares during the last quarter.

Exodus Movement Company Profile

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.