Diginex (NASDAQ:DGNX) Shares Down 9% - Here's Why

Key Points

• Diginex Limited's shares dropped 9% in mid-day trading, closing at $50.00 after a decline from a previous close of $54.94.
• The trading volume fell to 15,886 shares, a significant decrease of 91% from the average daily volume of 181,919 shares.
• An institutional investor, Geode Capital Management LLC, raised its stake in Diginex by 10% during the second quarter, indicating institutional interest despite the stock decline.

Diginex Limited (NASDAQ:DGNX - Get Free Report)'s stock price dropped 9% during mid-day trading on Friday . The stock traded as low as $50.00 and last traded at $50.00. Approximately 15,886 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 181,919 shares. The stock had previously closed at $54.94.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Diginex to a "hold" rating in a research report on Saturday, June 14th.

Diginex Price Performance

The company has a 50 day moving average price of $52.68 and a 200 day moving average price of $65.89.

Hedge Funds Weigh In On Diginex

An institutional investor recently raised its position in Diginex stock. Geode Capital Management LLC raised its stake in Diginex Limited (NASDAQ:DGNX - Free Report) by 10.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,315 shares of the company's stock after purchasing an additional 1,748 shares during the quarter. Geode Capital Management LLC owned 0.08% of Diginex worth $994,000 at the end of the most recent quarter.

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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