Zacks Investment Research upgraded shares of Digiliti Money (NASDAQ:DGLT) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
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 report on Tuesday, May 30th. They set a buy rating and a $6.00 target price for the company.
Digiliti Money (NASDAQ DGLT) opened at 1.0464 on Tuesday. The company’s 50-day moving average price is $1.91 and its 200 day moving average price is $3.39. 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. Manatuck Hill Partners LLC bought a new position in Digiliti Money (NASDAQ:DGLT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 444,444 shares of the company’s stock, valued at approximately $1,413,000. Manatuck Hill Partners LLC owned about 4.50% of Digiliti Money at the end of the most recent quarter. 4.83% of the stock is owned by 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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