DIGILITI MONEY (NASDAQ:DGLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

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 assumed coverage on shares of DIGILITI MONEY in a research note on Tuesday, May 30th. They issued a “buy” rating and a $6.00 price objective on the stock.

Shares of DIGILITI MONEY (DGLT) traded down 59.617% during trading on Friday, hitting $0.739. 416,051 shares of the stock were exchanged. The stock’s market cap is $7.30 million. DIGILITI MONEY has a 52 week low of $0.64 and a 52 week high of $13.28. The firm’s 50 day moving average price is $2.92 and its 200-day moving average price is $3.71.

DIGILITI MONEY (NASDAQ:DGLT) last announced its quarterly earnings results on Thursday, May 11th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.71. The business had revenue of $2.52 million for the quarter. On average, analysts predict that DIGILITI MONEY will post ($0.63) EPS for the current year.

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DIGILITI MONEY Company Profile

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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