Digi International (NASDAQ:DGII) Upgraded at StockNews.com

StockNews.com upgraded shares of Digi International (NASDAQ:DGII) from a buy rating to a strong-buy rating in a report published on Thursday.

Several other equities analysts have also weighed in on the stock. Piper Sandler raised their price objective on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Craig Hallum reiterated a “hold” rating and issued a $32.00 price objective (up from $28.00) on shares of Digi International in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.75.

Digi International Stock Down 4.7 %

Digi International stock opened at $30.74 on Thursday. Digi International has a twelve month low of $20.17 and a twelve month high of $34.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.13 and a current ratio of 1.73. The firm has a market cap of $1.13 billion, a PE ratio of 50.39, a P/E/G ratio of 1.21 and a beta of 1.05. The firm’s 50 day moving average price is $31.66 and its two-hundred day moving average price is $27.91.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The business had revenue of $105.05 million during the quarter, compared to analyst estimates of $104.16 million. During the same period last year, the company earned $0.44 earnings per share. Digi International’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that Digi International will post 1.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Satbir Khanuja sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 of the company’s stock, valued at $2,644,178.80. The trade was a 7.76 % decrease in their position. The sale 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 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 sale, the vice president now directly owns 39,002 shares of the company’s stock, valued at $1,289,406.12. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,329 shares of company stock valued at $332,361 in the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Trading of Digi International

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in Digi International by 92.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after buying an additional 3,911 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Digi International by 13.5% in the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after acquiring an additional 2,418 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Digi International during the second quarter valued at approximately $498,000. BNP Paribas Financial Markets increased its holdings 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 valued at $664,000 after purchasing an additional 8,235 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Digi International by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock worth $2,627,000 after purchasing an additional 7,208 shares during the last quarter. 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.