Zagg Inc (NASDAQ:ZAGG) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 2,845,100 shares, an increase of 22.2% from the June 30th total of 2,327,800 shares. Based on an average daily trading volume, of 694,800 shares, the short-interest ratio is currently 4.1 days. Approximately 10.9% of the shares of the company are short sold.

Shares of NASDAQ ZAGG traded down $0.04 during midday trading on Wednesday, hitting $5.62. 17,325 shares of the company’s stock were exchanged, compared to its average volume of 501,980. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.99 and a current ratio of 1.86. The business’s 50 day moving average is $6.72. The stock has a market cap of $163.43 million, a price-to-earnings ratio of 3.83, a P/E/G ratio of 0.70 and a beta of 1.43. Zagg has a twelve month low of $5.26 and a twelve month high of $16.70.

Zagg (NASDAQ:ZAGG) last released its earnings results on Tuesday, August 6th. The specialty retailer reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $106.80 million during the quarter, compared to the consensus estimate of $105.41 million. Zagg had a return on equity of 9.82% and a net margin of 1.86%. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 earnings per share. As a group, equities research analysts predict that Zagg will post 0.85 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on the company. BidaskClub downgraded Zagg from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 16th. Zacks Investment Research downgraded Zagg from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Craig Hallum reduced their price objective on Zagg from $17.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Putnam Investments LLC purchased a new position in shares of Zagg during the 2nd quarter valued at $4,112,000. Roumell Asset Management LLC grew its holdings in shares of Zagg by 470.5% during the 2nd quarter. Roumell Asset Management LLC now owns 904,867 shares of the specialty retailer’s stock valued at $6,298,000 after acquiring an additional 746,268 shares in the last quarter. Tower Research Capital LLC TRC grew 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. BlackRock Inc. grew its holdings in shares of Zagg by 5.8% during the 2nd quarter. BlackRock Inc. now owns 2,518,883 shares of the specialty retailer’s stock valued at $17,530,000 after acquiring an additional 137,381 shares in the last quarter. Finally, S&T Bank PA grew its holdings in shares of Zagg by 0.6% during the 2nd quarter. S&T Bank PA now owns 343,439 shares of the specialty retailer’s stock valued at $2,390,000 after acquiring an additional 2,138 shares in the last quarter. Hedge funds and other institutional investors own 74.57% of the company’s stock.

Zagg Company Profile

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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