Zagg (NASDAQ:ZAGG) Sees Large Volume Increase

Zagg Inc (NASDAQ:ZAGG) shares saw an uptick in trading volume on Monday . 958,387 shares were traded during trading, an increase of 63% from the previous session’s volume of 586,478 shares.The stock last traded at $7.86 and had previously closed at $7.68.

A number of research analysts have issued reports on ZAGG shares. Zacks Investment Research downgraded Zagg from a “hold” rating to a “sell” rating in a report on Saturday, November 9th. Craig Hallum decreased their target price on Zagg from $17.50 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, ValuEngine upgraded Zagg from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

The company has a current ratio of 1.77, a quick ratio of 0.94 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average price of $7.52 and a 200-day moving average price of $6.76. The firm has a market cap of $223.38 million, a price-to-earnings ratio of 5.56, a P/E/G ratio of 0.96 and a beta of 1.41.

Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.06 million. Zagg had a net margin of 0.65% and a return on equity of 8.20%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. As a group, equities analysts expect that Zagg Inc will post 0.8 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in shares of Zagg by 540.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,472 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 3,774 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Zagg during the 2nd quarter valued at about $172,000. D.A. Davidson & CO. lifted its position in Zagg by 86.3% during the 2nd quarter. D.A. Davidson & CO. now owns 26,504 shares of the specialty retailer’s stock worth $184,000 after acquiring an additional 12,279 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Zagg by 21.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 39,614 shares of the specialty retailer’s stock worth $248,000 after acquiring an additional 6,862 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Zagg by 8.5% during the third quarter. Rhumbline Advisers now owns 43,609 shares of the specialty retailer’s stock valued at $273,000 after purchasing an additional 3,423 shares during the period. 88.35% 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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