Digi International (NASDAQ:DGII) Stock Passes Above 200 Day Moving Average of $27.22

Digi International Inc. (NASDAQ:DGII) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $27.22 and traded as high as $29.54. Digi International shares last traded at $29.46, with a volume of 180,500 shares.

Wall Street Analyst Weigh In

DGII has been the subject of several recent research reports. Piper Sandler decreased their price target on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Craig Hallum dropped their price target on Digi International from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of Digi International from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Digi International Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.31 and a current ratio of 2.00. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 77.53, a PEG ratio of 1.03 and a beta of 1.07. The firm has a fifty day moving average price of $25.78 and a 200 day moving average price of $27.22.

Digi International (NASDAQ:DGII) last issued its earnings results on Wednesday, August 7th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The company had revenue of $105.20 million for the quarter, compared to analyst estimates of $105.60 million. Digi International had a net margin of 3.94% and a return on equity of 11.32%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, sell-side analysts expect that Digi International Inc. will post 1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DGII. GAMMA Investing LLC raised its holdings in shares of Digi International by 687.7% in the 1st quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after purchasing an additional 839 shares during the period. YHB Investment Advisors Inc. acquired a new position in Digi International during the first quarter valued at approximately $33,000. NBC Securities Inc. purchased a new stake in Digi International during the first quarter worth approximately $78,000. Central Pacific Bank Trust Division acquired a new stake in shares of Digi International in the first quarter worth $139,000. Finally, SG Americas Securities LLC raised its stake in shares of Digi International by 92.5% in the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock valued at $187,000 after acquiring an additional 3,911 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.