Diginex (NASDAQ:DGNX) Stock Price Down 9.5% - Here's What Happened

Key Points

• Diginex shares were down 9.5%, trading as low as $9.30 and last at $9.50, on just 161,213 shares — an 87% drop versus the average session volume.
• Weiss Ratings reaffirmed a "Sell (e+)" and MarketBeat data shows the stock's consensus analyst rating is currently "Sell."
• Several institutions adjusted positions recently, notably UBS raised its stake by 562.8% to 46,141 shares, while other funds also added or initiated smaller holdings.

Diginex Limited (NASDAQ:DGNX - Get Free Report)'s stock price fell 9.5% on Wednesday . The stock traded as low as $9.30 and last traded at $9.50. 161,213 shares traded hands during trading, a decline of 87% from the average session volume of 1,217,341 shares. The stock had previously closed at $10.50.

Analysts Set New Price Targets

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

Diginex Stock Performance

The company has a 50 day moving average of $16.49 and a 200 day moving average of $11.28.

Hedge Funds Weigh In On Diginex

Several institutional investors have recently added to or reduced their stakes in DGNX. UBS Group AG raised its position in shares of Diginex by 562.8% during the 3rd quarter. UBS Group AG now owns 46,141 shares of the company's stock valued at $664,000 after buying an additional 39,179 shares in the last quarter. Geode Capital Management LLC boosted its position in Diginex by 10.0% during the 2nd quarter. Geode Capital Management LLC now owns 19,315 shares of the company's stock valued at $994,000 after acquiring an additional 1,748 shares in the last quarter. PharVision Advisers LLC bought a new stake in shares of Diginex in the 3rd quarter worth approximately $262,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Diginex in the 3rd quarter worth about $230,000. Finally, Armistice Capital LLC bought a new stake in shares of Diginex in the 3rd quarter worth $144,000.

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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