Digi International Inc. (NASDAQ:DGII) Sees Significant Increase in Short Interest

Digi International Inc. (NASDAQ:DGII) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 2,500,000 shares, an increase of 10.1% from the May 31st total of 2,270,000 shares. Based on an average daily trading volume, of 186,800 shares, the short-interest ratio is currently 13.4 days.

Digi International Trading Down 0.1 %

Shares of DGII opened at $22.91 on Tuesday. The stock’s 50-day moving average is $25.31 and its two-hundred day moving average is $27.17. The stock has a market cap of $833.47 million, a PE ratio of 60.29, a P/E/G ratio of 0.79 and a beta of 1.07. Digi International has a 12 month low of $21.25 and a 12 month high of $42.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.28.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $107.70 million for the quarter, compared to analysts’ expectations of $106.97 million. Digi International had a return on equity of 11.61% and a net margin of 3.20%. Equities analysts forecast that Digi International will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Digi International

Hedge funds and other institutional investors have recently modified their holdings of the business. Summit Creek Advisors LLC increased its position in shares of Digi International by 16.5% during the fourth quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock worth $7,733,000 after acquiring an additional 42,179 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Digi International by 687.7% during the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after acquiring an additional 839 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Digi International by 55.0% during the fourth quarter. SG Americas Securities LLC now owns 23,167 shares of the technology company’s stock worth $602,000 after acquiring an additional 8,216 shares during the last quarter. Geneva Capital Management LLC increased its holdings in Digi International by 50.0% in the fourth quarter. Geneva Capital Management LLC now owns 1,396,042 shares of the technology company’s stock valued at $36,297,000 after buying an additional 465,382 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Digi International by 0.5% in the third quarter. Rhumbline Advisers now owns 102,783 shares of the technology company’s stock valued at $2,775,000 after buying an additional 502 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Piper Sandler downgraded Digi International from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $35.00 to $29.00 in a research note on Wednesday, May 22nd. StockNews.com raised Digi International from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Finally, Roth Mkm decreased their price objective on Digi International from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Digi International has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Digi International Company Profile

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.