Diginex (NASDAQ:DGNX) Shares Down 0.5% - Should You Sell?

Key Points

• Diginex Limited (NASDAQ:DGNX) saw a 0.5% decline in its stock price, trading at approximately $55.70, with a significant decrease in trading volume by 35% from its average.
• The company's shares are scheduled for a 7-1 stock split on September 8th, which was announced on August 18th.
• Wall Street Zen has upgraded Diginex to a "hold" rating as of June 14th, indicating analysts' mixed outlook on the stock.

Shares of Diginex Limited (NASDAQ:DGNX - Get Free Report) traded down 0.5% during trading on Wednesday . The company traded as low as $54.00 and last traded at $55.70. 26,594 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 41,048 shares. The stock had previously closed at $56.00.

Wall Street Analysts Forecast Growth

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

Diginex Trading Up 1.6%

The firm's 50-day moving average is $52.66 and its 200-day moving average is $66.78.

Shares of Diginex are set to split before the market opens on Monday, September 8th. The 7-1 split was announced on Monday, August 18th. The newly minted shares will be distributed to shareholders after the market closes on Friday, September 5th.

Hedge Funds Weigh In On Diginex

A hedge fund recently bought a new stake in Diginex stock. Y Intercept Hong Kong Ltd bought a new position in Diginex Limited (NASDAQ:DGNX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,447 shares of the company's stock, valued at approximately $572,000.

About Diginex

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.