Zagg (NASDAQ:ZAGG) Stock Price Up 6.8%

Zagg Inc (NASDAQ:ZAGG)’s stock price rose 6.8% on Friday . The stock traded as high as $5.88 and last traded at $5.79, approximately 918,739 shares traded hands during trading. An increase of 81% from the average daily volume of 507,333 shares. The stock had previously closed at $5.42.

ZAGG has been the topic of several recent research reports. Zacks Investment Research lowered Zagg from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Craig Hallum decreased their price target on Zagg from $17.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $13.00.

The company has a quick ratio of 0.99, a current ratio of 1.86 and a debt-to-equity ratio of 0.70. The business has a 50 day simple moving average of $6.66 and a two-hundred day simple moving average of $8.36. The firm has a market cap of $158.20 million, a PE ratio of 4.02, a price-to-earnings-growth ratio of 0.67 and a beta of 1.43.



Zagg (NASDAQ:ZAGG) last released its earnings results on Tuesday, August 6th. The specialty retailer reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). Zagg had a return on equity of 9.82% and a net margin of 1.86%. The business had revenue of $106.80 million for the quarter, compared to analyst estimates of $105.41 million. During the same quarter last year, the firm posted $0.11 earnings per share. The business’s revenue was down 9.9% compared to the same quarter last year. Equities analysts forecast that Zagg Inc will post 0.85 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. purchased a new position in shares of Zagg in the second quarter worth about $172,000. Morgan Stanley raised its stake in shares of Zagg by 112.8% in the second quarter. Morgan Stanley now owns 70,910 shares of the specialty retailer’s stock worth $493,000 after purchasing an additional 37,592 shares during the last quarter. Putnam Investments LLC purchased a new position in shares of Zagg in the second quarter worth about $4,112,000. Roumell Asset Management LLC raised its stake in shares of Zagg by 470.5% in the second quarter. Roumell Asset Management LLC now owns 904,867 shares of the specialty retailer’s stock worth $6,298,000 after purchasing an additional 746,268 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Zagg by 540.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,472 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 3,774 shares during the last quarter. Institutional investors and hedge funds own 74.57% 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.

Further Reading: What is the Quick Ratio?

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