DIGILITI MONEY (DGLT) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of DIGILITI MONEY (NASDAQ:DGLT) from a hold rating to a sell rating in a report released on Monday.

According to Zacks, “Digiliti Money Group, Inc. is a technology solutions and services provider to the financial services industry. The company operates as a cloud-based software-as-a-service provider of remote deposit capture and mobile wallet solutions for customers of banks, credit unions, prepaid card programs, check cashing services and payday lenders. Its solutions and services enable banks, credit unions and alternative financial services providers to offer their customers remote deposit capture and prepaid mobile money technologies and related services. Digiliti Money Group, Inc., formerly known as Cachet Financial Solutions, Inc., is headquartered in Minneapolis. “

Separately, Lake Street Capital initiated coverage on DIGILITI MONEY in a research note on Tuesday, May 30th. They set a buy rating and a $6.00 target price on the stock.

Shares of DIGILITI MONEY (NASDAQ:DGLT) traded up 435.2430% during mid-day trading on Monday, hitting $1.0464. The stock had a trading volume of 16,320,629 shares. The stock has a 50 day moving average of $1.22 and a 200-day moving average of $3.11. DIGILITI MONEY has a 52 week low of $0.17 and a 52 week high of $13.28. The stock’s market capitalization is $10.34 million.

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A hedge fund recently bought a new stake in DIGILITI MONEY stock. Goldman Sachs Group Inc. purchased a new position in shares of DIGILITI MONEY (NASDAQ:DGLT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,971 shares of the company’s stock, valued at approximately $156,000. Goldman Sachs Group Inc. owned approximately 0.50% of DIGILITI MONEY at the end of the most recent reporting period. 6.15% of the stock is currently owned by hedge funds and other institutional investors.

About DIGILITI MONEY

Digiliti Money Group, Inc, formerly Digiliti Money, Inc, is a technology solutions and services provider to the financial services industry. The Company’s solutions and services enable its clients, such as banks, credit unions and alternative financial services providers (AFS) to offer their customers remote deposit capture (RDC) and prepaid mobile money technologies and related services.

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