Zagg (NASDAQ:ZAGG) Trading Up 12.8%

Zagg Inc (NASDAQ:ZAGG)’s stock price was up 12.8% on Wednesday . The stock traded as high as $8.63 and last traded at $8.56, approximately 1,005,922 shares changed hands during mid-day trading. An increase of 101% from the average daily volume of 500,440 shares. The stock had previously closed at $7.59.

Separately, Zacks Investment Research raised Zagg from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th.

The firm has a 50 day simple moving average of $7.86 and a two-hundred day simple moving average of $7.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.77 and a quick ratio of 0.94. The stock has a market cap of $212.62 million, a price-to-earnings ratio of 59.79 and a beta of 1.41.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its position in shares of Zagg by 112.8% during 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 period. Divergent Wealth Advisors LLC raised its position in shares of Zagg by 66.0% during the fourth quarter. Divergent Wealth Advisors LLC now owns 41,696 shares of the specialty retailer’s stock worth $338,000 after purchasing an additional 16,577 shares during the period. California Public Employees Retirement System raised its position in shares of Zagg by 5.5% during the third quarter. California Public Employees Retirement System now owns 80,778 shares of the specialty retailer’s stock worth $506,000 after purchasing an additional 4,200 shares during the period. State Street Corp raised its position in shares of Zagg by 0.3% during the third quarter. State Street Corp now owns 484,777 shares of the specialty retailer’s stock worth $3,040,000 after purchasing an additional 1,619 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Zagg by 8.5% during the third quarter. Rhumbline Advisers now owns 43,609 shares of the specialty retailer’s stock worth $273,000 after purchasing an additional 3,423 shares during the period. 88.17% of the stock is currently owned by institutional investors.

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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