Zagg (NASDAQ:ZAGG) Sees Large Volume Increase

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Zagg Inc (NASDAQ:ZAGG) shares saw an uptick in trading volume on Wednesday . 3,351,973 shares traded hands during trading, an increase of 537% from the previous session’s volume of 526,354 shares.The stock last traded at $6.33 and had previously closed at $5.62.

A number of brokerages have commented on ZAGG. ValuEngine upgraded Zagg from a “strong sell” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research cut Zagg from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Craig Hallum lowered their target price on Zagg from $17.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. Zagg presently has an average rating of “Hold” and an average price target of $13.00.

The business has a fifty day simple moving average of $6.53 and a 200 day simple moving average of $8.24. The stock has a market cap of $194.55 million, a price-to-earnings ratio of 4.57, a PEG ratio of 0.66 and a beta of 1.43. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.99 and a current ratio of 1.86.

Zagg (NASDAQ:ZAGG) last posted its quarterly earnings data on Tuesday, August 6th. The specialty retailer reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts’ expectations of $105.41 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue was down 9.9% on a year-over-year basis. On average, equities research analysts anticipate that Zagg Inc will post 0.85 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of ZAGG. Roumell Asset Management LLC boosted its holdings in shares of Zagg by 470.5% during 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. Putnam Investments LLC acquired a new stake in shares of Zagg during the second quarter worth $4,112,000. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Zagg by 26.1% during the second quarter. Pacific Ridge Capital Partners LLC now owns 990,493 shares of the specialty retailer’s stock worth $6,894,000 after purchasing an additional 205,173 shares during the last quarter. Signia Capital Management LLC boosted its holdings in shares of Zagg by 103.6% during the first quarter. Signia Capital Management LLC now owns 369,542 shares of the specialty retailer’s stock worth $3,351,000 after purchasing an additional 188,051 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in shares of Zagg by 14.2% during the second quarter. Wasatch Advisors Inc. now owns 1,455,051 shares of the specialty retailer’s stock worth $10,127,000 after purchasing an additional 180,447 shares during the last quarter. Institutional investors and hedge funds own 82.74% of the company’s stock.

Zagg Company Profile (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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