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.
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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