Diginex (NASDAQ:DGNX) Shares Down 11.1% - Should You Sell?

Key Points

• Diginex Limited shares dropped by 11.1% during trading, reaching a low of $13.40 before closing at $13.52, with a staggering decline in trading volume.
• Weiss Ratings has issued a reaffirmed "sell (e+)" rating for Diginex, indicating negative sentiment toward the stock, which holds a consensus rating of "Sell".
• Institutional investor Geode Capital Management raised its stake in Diginex by 10.0%, reflecting some confidence despite the current downturn.

Diginex Limited (NASDAQ:DGNX - Get Free Report) shares fell 11.1% during mid-day trading on Wednesday . The stock traded as low as $13.40 and last traded at $13.52. 177,495 shares were traded during trading, a decline of 86% from the average session volume of 1,266,906 shares. The stock had previously closed at $15.20.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Diginex in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of "Sell".

Diginex Stock Down 14.7%

The business has a fifty day moving average price of $13.30 and a two-hundred day moving average price of $11.08.

Institutional Investors Weigh In On Diginex

A hedge fund recently raised its stake in Diginex stock. Geode Capital Management LLC grew its holdings in Diginex Limited (NASDAQ:DGNX - Free Report) by 10.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,315 shares of the company's stock after acquiring an additional 1,748 shares during the quarter. Geode Capital Management LLC owned 0.08% of Diginex worth $994,000 as of its most recent filing with the Securities and Exchange Commission.

Diginex Company Profile

DSL is the wholly owned subsidiary of Diginex Limited. Accordingly, Diginex Limited owns 100% of DSL and all of DSL's business lines and subsidiaries. DSL is an impact technology business that helps organizations to address the some of the most pressing Environmental, Social and Governance (“ESG”), climate and sustainability issues, utilizing blockchain, machine learning and data analysis technology to lead change and increase transparency in corporate social responsibility and climate action.

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