ZAGG Inc (NASDAQ:ZAGG) Traded Significantly Above Its 50 Day Moving Average

0
38

The stock last traded at $17.40 significantly higher than $14.94, the stock’s 50 day moving average and which is quite a bit higher than the 200 day moving average of $10.32. The 50 day moving average was up by +16.47% whereas the 200 day moving average was up $7.08 or +68.53%. Trading was heavy with 703K shares changing hands in the last trading session. Overall, volume was up 251.51% over the stocks normal daily volume.

Traders are feeling more bullish on ZAGG Inc as implied by the fall in short interest. The firm had a fall in short interest of -26.01% as of September 29, 2017 from the last reporting period. Short interest decreased from 1,775,121 to 1,313,436 over that timeframe. With short interest at 1,313,436 and short average daily volume at 890,558, the short-interest ratio is 1.0 and the short interest percentage is 0.05% as of September 29.

These firms have modified their investment in ZAGG. Baird Financial Group, Inc. trimmed its stake by selling 36,969 shares a decrease of 4.3%. Baird Financial Group, Inc. controls 827,592 shares valued at $7,159,000. The total value of its holdings increased 15.0%. As of the end of the quarter Acadian Asset Management LLC had bought a total of 6,256 shares growing its position 19.5%. The value of the company’s investment in ZAGG Inc increased from $278,000 to $605,000 increasing 117.6% for the reporting period.

As of quarter end Cutler Group LP had acquired 719 shares growing its stake by 887.7%. The value of the investment in ZAGG Inc went from $0 to $0 a change of $0 quarter over quarter. As of the end of the quarter Meeder Asset Management Inc had sold 237 shares trimming its holdings by 38.1%. The value of the total investment in ZAGG Inc went from $4,000 to $6,000 a change of 50.0% since the last quarter.

In the last earnings report the EPS was $-0.50 and is projected to be $0.86 for the current year with 27,964,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.63 with next year’s EPS anticipated to be $1.15.

ZAGG Inc (ZAGG), launched on April 2, 2004, designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands. In addition, the Company designs, produces and distributes earbuds, headphones, mobile power solutions, Bluetooth speakers, cases and cables for mobile devices under the iFrogz brand in the fashion and youth oriented lifestyle sector. The Company designs product solutions for users of mobile devices, and sells these products to consumers through global distribution partners and online. The Company offers products for various market segments of handheld electronic devices, including smartphones, tablets, notebook computers, laptops, gaming devices, global positioning system (GPS) devices, watch faces, and similar devices and surfaces..

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.