Diginex (NASDAQ:DGNX) Shares Up 32.9% - Still a Buy?

Key Points

• Diginex Limited's stock price surged by 32.9% on Wednesday, reaching a peak of $13.16 before settling at $10.63.
• A hedge fund, Y Intercept Hong Kong Ltd, recently established a new stake in Diginex, acquiring 6,447 shares valued at approximately $572,000.
• Wall Street Zen upgraded Diginex to a "hold" rating, with the stock's 50-day and 200-day simple moving averages at $7.94 and $9.71, respectively.

Diginex Limited (NASDAQ:DGNX - Get Free Report)'s stock price traded up 32.9% during trading on Wednesday . The stock traded as high as $13.16 and last traded at $10.63. 328,020 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,324,889 shares. The stock had previously closed at $8.00.

Analysts Set New Price Targets

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

Diginex Price Performance

The company's 50-day moving average price is $8.10 and its 200 day moving average price is $9.83.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Diginex stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of Diginex Limited (NASDAQ:DGNX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,447 shares of the company's stock, valued at approximately $572,000.

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.