Zagg (NASDAQ:ZAGG) Trading Down 6%

Zagg Inc (NASDAQ:ZAGG)’s stock price dropped 6% on Wednesday . The company traded as low as $7.22 and last traded at $7.26, approximately 595,770 shares were traded during trading. An increase of 30% from the average daily volume of 457,808 shares. The stock had previously closed at $7.72.

ZAGG has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Zogenix from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Zacks Investment Research cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The stock presently has a consensus rating of “Sell” and an average price target of $13.50.

The firm has a market cap of $224.34 million, a PE ratio of 5.04, a P/E/G ratio of 0.68 and a beta of 1.45. The firm has a fifty day moving average of $6.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.01 and a quick ratio of 1.08.



Zagg (NASDAQ:ZAGG) last posted its quarterly earnings results on Tuesday, May 7th. The specialty retailer reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.09). The business had revenue of $78.80 million for the quarter, compared to the consensus estimate of $78.75 million. Zagg had a return on equity of 13.95% and a net margin of 3.51%. Zagg’s quarterly revenue was down 29.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. As a group, equities analysts forecast that Zagg Inc will post 1.44 EPS for the current year.

Several institutional investors have recently bought and sold shares of ZAGG. Signia Capital Management LLC boosted its holdings in shares of Zagg by 103.6% during the 1st quarter. Signia Capital Management LLC now owns 369,542 shares of the specialty retailer’s stock worth $3,351,000 after buying an additional 188,051 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Zagg by 28.8% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 785,320 shares of the specialty retailer’s stock worth $7,123,000 after buying an additional 175,722 shares in the last quarter. IndexIQ Advisors LLC bought a new position in shares of Zagg during the 1st quarter worth approximately $1,562,000. Rice Hall James & Associates LLC bought a new position in shares of Zagg during the 1st quarter worth approximately $1,104,000. Finally, Tieton Capital Management LLC lifted its holdings in shares of Zagg by 18.0% in the 1st quarter. Tieton Capital Management LLC now owns 534,170 shares of the specialty retailer’s stock worth $4,845,000 after purchasing an additional 81,363 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company’s stock.

About Zagg (NASDAQ:ZAGG)

ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. The company offers screen protection products; protective cases to protect device-specific mobile devices and tablets; power management products for tablets, smartphones, smartwatches, cameras, and other electronic mobile devices; power stations, wireless chargers, car and wall chargers, portable power products, and power wallets; earbuds, headphones, and speakers; and device specific keyboards and device agnostic keyboards under the ZAGG, InvisibleShield, mophie, IFROGZ, BRAVEN, Gear4, and HALO brands.

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