Digi International (NASDAQ:DGII) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Digi International Inc. (NASDAQ:DGII) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.12 and traded as high as $34.90. Digi International shares last traded at $34.50, with a volume of 143,647 shares.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Piper Sandler lifted their target price on shares of Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Stephens reaffirmed an “overweight” rating and set a $45.00 target price on shares of Digi International in a report on Thursday, February 6th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $32.00 target price (up previously from $28.00) on shares of Digi International in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Digi International has an average rating of “Moderate Buy” and a consensus price target of $36.75.

Digi International Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.61. The stock has a market cap of $1.28 billion, a P/E ratio of 36.24, a P/E/G ratio of 1.21 and a beta of 1.06. The stock’s fifty day simple moving average is $31.60 and its 200-day simple moving average is $30.23.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. As a group, research analysts forecast that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Digi International

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

Hedge Funds Weigh In On Digi International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of Digi International by 868.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company’s stock valued at $35,000 after buying an additional 1,025 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Digi International by 6.3% in the 4th quarter. Captrust Financial Advisors now owns 21,629 shares of the technology company’s stock valued at $654,000 after buying an additional 1,291 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Digi International by 7.2% in the 4th quarter. MetLife Investment Management LLC now owns 21,655 shares of the technology company’s stock valued at $655,000 after buying an additional 1,451 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Digi International in the 4th quarter valued at approximately $45,000. Finally, BNP Paribas Financial Markets increased its position in Digi International by 16.3% during the 4th quarter. BNP Paribas Financial Markets now owns 28,054 shares of the technology company’s stock worth $848,000 after purchasing an additional 3,925 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.