A number of other analysts have also commented on the stock. Zacks Investment Research upgraded shares of Digi International from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Friday, October 18th. ValuEngine lowered shares of Digi International from a buy rating to a hold rating in a research report on Monday, October 7th. Finally, TheStreet raised shares of Digi International from a c+ rating to a b- rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $18.25.
Shares of NASDAQ:DGII traded up $0.78 during midday trading on Friday, reaching $14.94. The company had a trading volume of 214,900 shares, compared to its average volume of 134,495. Digi International has a 1-year low of $9.28 and a 1-year high of $15.87. The firm has a market cap of $403.48 million, a price-to-earnings ratio of 298.80, a price-to-earnings-growth ratio of 2.20 and a beta of 1.58. The company has a fifty day simple moving average of $13.91 and a two-hundred day simple moving average of $12.92.
In other news, VP Terrence G. Schneider sold 2,636 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $13.61, for a total value of $35,875.96. Following the transaction, the vice president now owns 20,666 shares in the company, valued at $281,264.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in DGII. Essex Investment Management Co. LLC purchased a new position in Digi International during the third quarter valued at $1,885,000. Teton Advisors Inc. lifted its position in Digi International by 36.0% during the second quarter. Teton Advisors Inc. now owns 158,620 shares of the technology company’s stock valued at $2,011,000 after buying an additional 42,000 shares during the period. Strs Ohio lifted its position in Digi International by 162.3% during the third quarter. Strs Ohio now owns 43,800 shares of the technology company’s stock valued at $596,000 after buying an additional 27,100 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Digi International by 39.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 50,530 shares of the technology company’s stock worth $641,000 after purchasing an additional 14,300 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Digi International by 288.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,811 shares of the technology company’s stock worth $161,000 after purchasing an additional 8,774 shares during the last quarter. 81.43% of the stock is owned by institutional investors and hedge funds.
About Digi International
Digi International Inc provides Internet of Things connectivity products, services, and solutions in North America, Europe, the Middle East, Africa, Asia, and Latin America. The company operates in two segments, IoT Products & Services and IoT Solutions. It offers cellular routers that provide connectivity for devices over a cellular data network; cellular gateway products that enable devices or groups of devices to be networked in locations where there is no existing network or where access to a network is prohibited; radio frequency products that utilize a range of wireless protocols for PC-to-device or device-to-device connectivity; and Connect, Rabbit, and ARM-based embedded systems on module and single board computers for medical, transportation, and industrial device manufacturers.
Further Reading: Equity Income
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