Short Interest in Digi International Inc. (NASDAQ:DGII) Decreases By 7.0%

Digi International Inc. (NASDAQ:DGII) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 2,380,000 shares, a decline of 7.0% from the November 30th total of 2,560,000 shares. Based on an average trading volume of 209,400 shares, the days-to-cover ratio is currently 11.4 days.

Digi International Stock Performance

Shares of NASDAQ:DGII traded down $0.18 during trading on Monday, reaching $30.22. The stock had a trading volume of 164,183 shares, compared to its average volume of 200,860. The stock has a fifty day simple moving average of $31.69 and a two-hundred day simple moving average of $28.27. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.21. Digi International has a 52 week low of $20.17 and a 52 week high of $34.82. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 49.54, a P/E/G ratio of 1.21 and a beta of 1.05.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.52 EPS for the quarter, topping 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 firm had revenue of $105.05 million for the quarter, compared to the consensus estimate of $104.16 million. During the same quarter last year, the firm posted $0.44 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, analysts anticipate that Digi International will post 1.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on DGII shares. StockNews.com raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. 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. Finally, Piper Sandler raised their target price on Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Two research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Insider Buying and Selling at Digi International

In related news, VP Terrence G. Schneider sold 2,808 shares of Digi International stock in a transaction 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 completion of the sale, the vice president now owns 39,002 shares of the company’s stock, valued at approximately $1,289,406.12. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the director now owns 83,255 shares in the company, valued at $2,644,178.80. This trade represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,329 shares of company stock valued at $332,361 in the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Digi International

Several hedge funds have recently added to or reduced their stakes in DGII. SG Americas Securities LLC boosted its position 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 acquiring an additional 8,788 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in Digi International in the 2nd quarter valued at $498,000. Captrust Financial Advisors grew its position in 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 purchasing an additional 2,418 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of 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, Rhumbline Advisers raised its position in shares of Digi International by 6.7% during the second quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock valued at $2,627,000 after buying an additional 7,208 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

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.