Diginex (NASDAQ:DGNX) Stock Price Up 13.7% - Should You Buy?

Key Points

• Diginex Limited's stock price surged by 13.7% on Thursday, reaching a last trade price of $17.97, despite a trading volume decline of 57% compared to average daily levels.
• Analysts maintain a consensus sell rating for Diginex, with Weiss Ratings reaffirming this stance in a recent note.
• Geode Capital Management LLC increased its stake in Diginex by 10% during the second quarter, now owning 19,315 shares worth approximately $994,000.

Diginex Limited (NASDAQ:DGNX - Get Free Report) shares rose 13.7% on Thursday . The stock traded as high as $18.17 and last traded at $17.97. Approximately 531,696 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 1,249,274 shares. The stock had previously closed at $15.80.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Diginex in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell".

Diginex Price Performance

The firm's 50 day moving average price is $14.13 and its two-hundred day moving average price is $11.13.

Hedge Funds Weigh In On Diginex

An institutional investor recently raised its position in Diginex stock. Geode Capital Management LLC boosted its position in shares of Diginex Limited (NASDAQ:DGNX - Free Report) by 10.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,315 shares of the company's stock after acquiring an additional 1,748 shares during the period. Geode Capital Management LLC owned 0.08% of Diginex worth $994,000 as of its most recent SEC filing.

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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