Diginex Limited (NASDAQ:DGNX) Sees Significant Increase in Short Interest

Key Points

• Short interest jumped 27.1% to 2,455,779 shares as of March 31 (up from 1,932,408 on March 15), yielding a short-interest ratio of 1.6 days and roughly 1.3% of the stock shorted.
• Analyst sentiment is negative — recent downgrades from Wall Street Zen and a reissued "sell (e+)" from Weiss Ratings leave Diginex with a consensus rating of "Sell."
• Shares traded at $0.56 midday with unusually heavy volume of 71,269,285 (versus a 4,204,737 average), and the stock sits well below its 200-day moving average ($7.15) with a 52-week range of $0.38–$39.85.

Diginex Limited (NASDAQ:DGNX - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 2,455,779 shares, a growth of 27.1% from the March 15th total of 1,932,408 shares. Based on an average daily trading volume, of 1,531,323 shares, the short-interest ratio is currently 1.6 days. Approximately 1.3% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DGNX. Wall Street Zen downgraded shares of Diginex from a "hold" rating to a "sell" rating in a research report on Saturday, January 31st. Weiss Ratings reissued a "sell (e+)" rating on shares of Diginex in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Diginex presently has a consensus rating of "Sell".

Diginex Price Performance

Shares of DGNX traded down $0.00 during midday trading on Thursday, hitting $0.56. The company had a trading volume of 71,269,285 shares, compared to its average volume of 4,204,737. The company's 50 day moving average price is $0.59 and its 200 day moving average price is $7.15. Diginex has a 52 week low of $0.38 and a 52 week high of $39.85.

Diginex (NASDAQ:DGNX - Get Free Report) last released its earnings results on Tuesday, December 9th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $1.02 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC acquired a new position in shares of Diginex in the 3rd quarter valued at about $38,000. Bank of America Corp DE boosted its holdings in shares of Diginex by 625.0% in the 3rd quarter. Bank of America Corp DE now owns 2,900 shares of the company's stock valued at $42,000 after buying an additional 2,500 shares during the period. Quarry LP acquired a new position in shares of Diginex in the 3rd quarter valued at about $44,000. Quadrature Capital Ltd acquired a new position in shares of Diginex in the 4th quarter valued at about $74,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Diginex in the 4th quarter valued at about $86,000.

About Diginex

Diginex Limited NASDAQ: DGNX is a digital asset financial services and solutions provider catering to institutional clients and professional investors. The company offers end-to-end trading, custody, banking and advisory services across a range of digital assets. Through its proprietary platform, Diginex delivers secure and compliant market access, enabling clients to trade, hold and transact cryptocurrencies and tokenized assets with institutional-grade infrastructures.

Key offerings include the EQUOS digital asset exchange, which provides spot and derivatives trading, as well as a suite of custody and settlement solutions designed to meet stringent regulatory requirements.

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