Digi International (NASDAQ:DGII) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Digi International Inc. (NASDAQ:DGII) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.67 and traded as high as $30.57. Digi International shares last traded at $30.51, with a volume of 92,260 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DGII. Craig Hallum reduced their price target on shares of Digi International from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Piper Sandler reduced their price target on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. One investment 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, Digi International presently has an average rating of “Moderate Buy” and an average target price of $34.20.

Digi International Stock Up 2.2 %

The company has a current ratio of 2.00, a quick ratio of 1.31 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.11 billion, a PE ratio of 80.29, a P/E/G ratio of 0.98 and a beta of 1.07. The business’s 50-day simple moving average is $28.48 and its 200 day simple moving average is $26.67.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $105.20 million for the quarter, compared to the consensus estimate of $105.60 million. Digi International had a net margin of 3.94% and a return on equity of 11.32%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. As a group, equities research analysts expect that Digi International Inc. will post 1.67 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geneva Capital Management LLC grew its position in shares of Digi International by 20.9% in the 1st quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock worth $53,887,000 after buying an additional 291,618 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Digi International by 1,814.0% in the 1st quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock worth $1,844,000 after buying an additional 54,746 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Digi International by 216.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock worth $2,091,000 after buying an additional 62,402 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Digi International in the 2nd quarter worth approximately $498,000. Finally, SG Americas Securities LLC grew its position in shares of Digi International by 108.0% in the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock worth $466,000 after buying an additional 8,788 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Digi International

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.