Diginex (NASDAQ:DGNX) Trading 9.2% Higher - Still a Buy?

Key Points

• Diginex Limited's stock price saw a significant increase of 9.2%, closing at $14.54 after trading as high as $14.68.
• Despite the stock's increase, it has a consensus rating of "Sell" from analysts, with Weiss Ratings reaffirming their "sell (e+)" rating.
• Institutional investor Geode Capital Management LLC increased its stake in Diginex by 10%, now owning approximately 0.08% of the company valued at $994,000.

Diginex Limited (NASDAQ:DGNX - Get Free Report)'s stock price traded up 9.2% during mid-day trading on Thursday . The stock traded as high as $14.68 and last traded at $14.54. 202,643 shares traded hands during trading, a decline of 84% from the average session volume of 1,262,857 shares. The stock had previously closed at $13.32.

Wall Street Analyst Weigh In

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

Diginex Stock Performance

The company has a 50 day simple moving average of $13.42 and a 200-day simple moving average of $11.09.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Diginex stock. Geode Capital Management LLC lifted its stake in Diginex Limited (NASDAQ:DGNX - Free Report) by 10.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,315 shares of the company's stock after buying an additional 1,748 shares during the period. Geode Capital Management LLC owned approximately 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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