Digi International (NASDAQ:DGII) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Digi International Inc. (NASDAQ:DGII) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.53 and traded as high as $30.39. Digi International shares last traded at $29.63, with a volume of 241,296 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DGII. Craig Hallum reissued a “hold” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Digi International in a research note on Thursday, November 14th. StockNews.com upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Piper Sandler lifted their price objective on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.75.

Digi International Price Performance

The firm has a market cap of $1.09 billion, a P/E ratio of 48.57, a P/E/G ratio of 1.21 and a beta of 1.07. The company has a fifty day moving average of $31.66 and a 200-day moving average of $28.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.13.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. Digi International had a net margin of 5.31% and a return on equity of 11.24%. The company had revenue of $105.05 million during the quarter, compared to the consensus estimate of $104.16 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that Digi International Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity

In other Digi International news, Director Satbir Khanuja sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the transaction, the director now directly owns 83,255 shares in the company, valued at $2,644,178.80. The trade was a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Terrence G. Schneider sold 2,808 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the sale, the vice president now owns 39,002 shares of the company’s stock, valued at approximately $1,289,406.12. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,329 shares of company stock valued at $332,361 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Digi International

Several institutional investors have recently bought and sold shares of DGII. SG Americas Securities LLC raised its stake in shares of Digi International by 108.0% in the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after buying an additional 8,788 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in Digi International during the second quarter valued at about $498,000. Captrust Financial Advisors boosted its position in Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after purchasing an additional 2,418 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Digi International by 51.8% in the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after purchasing an additional 8,235 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Digi International by 6.7% in the second quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock valued at $2,627,000 after purchasing an additional 7,208 shares during the period. 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.