Zacks Investment Research upgraded shares of Digiliti Money Group Inc (NASDAQ:DGLT) from a sell rating to a hold rating in a research report report published on Tuesday morning.

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. “

Digiliti Money Group (NASDAQ DGLT) traded down 61.77% during midday trading on Tuesday, hitting $0.40. The stock had a trading volume of 1,400,809 shares. The stock’s market cap is $3.95 million. Digiliti Money Group has a 12 month low of $0.17 and a 12 month high of $13.27. The stock has a 50 day moving average of $1.22 and a 200 day moving average of $3.11.

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A hedge fund recently bought a new stake in Digiliti Money Group stock. Manatuck Hill Partners LLC bought a new position in shares of Digiliti Money Group Inc (NASDAQ:DGLT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 444,444 shares of the company’s stock, valued at approximately $1,413,000. Manatuck Hill Partners LLC owned 4.50% of Digiliti Money Group at the end of the most recent quarter. 6.15% of the stock is owned by hedge funds and other institutional investors.

About Digiliti Money Group

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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