Short Interest in Diginex Limited (NASDAQ:DGNX) Grows By 169.7%

Key Points

• Short interest in Diginex surged 169.7% to 2,016,841 shares as of Jan. 30, equal to about 1.1% of the stock and a days-to-cover ratio of 0.3 days based on average daily volume.
• While institutions like Goldman Sachs opened a new ~$86k position and UBS materially increased its stake, analysts maintain an average "Sell" rating on DGNX after recent downgrades and reaffirmations.

Diginex Limited (NASDAQ:DGNX - Get Free Report) was the target of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 2,016,841 shares, an increase of 169.7% from the January 15th total of 747,828 shares. Based on an average daily volume of 7,411,297 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.1% of the company's stock are short sold. Currently, 1.1% of the company's stock are short sold. Based on an average daily volume of 7,411,297 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new position in Diginex during the fourth quarter worth about $86,000. UBS Group AG raised its position in shares of Diginex by 562.8% in the third 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 lifted its holdings in Diginex by 10.0% during the 2nd quarter. Geode Capital Management LLC now owns 19,315 shares of the company's stock worth $994,000 after buying an additional 1,748 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of Diginex during the third quarter valued at about $230,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Diginex in the 3rd quarter worth approximately $168,000.

Wall Street Analyst Weigh In

A number of analysts have commented on DGNX shares. Wall Street Zen lowered Diginex from a "hold" rating to a "sell" rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Diginex in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Diginex has an average rating of "Sell".

Diginex Price Performance

NASDAQ DGNX traded down $0.00 on Thursday, hitting $0.60. The company had a trading volume of 1,318,701 shares, compared to its average volume of 4,618,547. The company's fifty day moving average price is $4.10 and its 200-day moving average price is $9.83. Diginex has a 12-month low of $0.52 and a 12-month high of $39.85.

Diginex (NASDAQ:DGNX - Get Free Report) last issued its quarterly earnings results on Tuesday, December 9th. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $1.02 million for the quarter.

About Diginex

Diginex Limited NASDAQ: DGNX is a digital asset financial services and solutions provider catering to institutional clients and professional investors. The company offers end-to-end trading, custody, banking and advisory services across a range of digital assets. Through its proprietary platform, Diginex delivers secure and compliant market access, enabling clients to trade, hold and transact cryptocurrencies and tokenized assets with institutional-grade infrastructures.

Key offerings include the EQUOS digital asset exchange, which provides spot and derivatives trading, as well as a suite of custody and settlement solutions designed to meet stringent regulatory requirements.

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