Digi International (NASDAQ:DGII) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Digi International Inc. (NASDAQ:DGII)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.08 and traded as high as $31.06. Digi International shares last traded at $30.40, with a volume of 144,906 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on DGII. Craig Hallum reissued a “hold” rating and set a $32.00 target price (up from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Piper Sandler boosted their price objective on Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, StockNews.com raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Two investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

Digi International Price Performance

The company has a market capitalization of $1.12 billion, a PE ratio of 49.84, a P/E/G ratio of 1.21 and a beta of 1.05. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $31.70 and a 200-day simple moving average of $28.17.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share 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 firm had revenue of $105.05 million during the quarter, compared to analysts’ expectations of $104.16 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Digi International Inc. will post 1.65 earnings per share for the current year.

Insider Activity

In related news, Director Satbir Khanuja sold 7,000 shares of the business’s stock in a transaction dated 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 owns 83,255 shares in the company, 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 SEC, which is available at the SEC website. Also, VP Terrence G. Schneider sold 2,808 shares of the company’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 sale, the vice president now directly owns 39,002 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 10,329 shares of company stock valued at $332,361. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Digi International

A number of hedge funds and other institutional investors have recently bought and sold shares of DGII. Captrust Financial Advisors lifted its stake in shares of Digi International by 13.5% in the 3rd 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 period. Bank of New York Mellon Corp lifted its position in Digi International by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock valued at $7,172,000 after purchasing an additional 6,534 shares during the period. Rhumbline Advisers boosted its holdings in Digi International by 6.7% in the 2nd 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 in the last quarter. BNP Paribas Financial Markets increased its position in Digi International by 51.8% during the 3rd 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 during the period. Finally, SG Americas Securities LLC raised its stake in shares of Digi International by 108.0% during 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 in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.