Digi International Inc. (NASDAQ:DGII) Sees Significant Increase in Short Interest

Digi International Inc. (NASDAQ:DGII) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,500,000 shares, a growth of 10.1% from the May 31st total of 2,270,000 shares. Based on an average daily volume of 186,800 shares, the days-to-cover ratio is currently 13.4 days.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler downgraded Digi International from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $35.00 to $29.00 in a report on Wednesday, May 22nd. StockNews.com upgraded Digi International from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. Finally, Roth Mkm decreased their target price on Digi International from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.50.

Institutional Investors Weigh In On Digi International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Digi International by 687.7% in the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after acquiring an additional 839 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Digi International in the first quarter worth $33,000. NBC Securities Inc. purchased a new stake in shares of Digi International in the first quarter worth $78,000. Central Pacific Bank Trust Division purchased a new stake in shares of Digi International in the first quarter worth $139,000. Finally, Verity Asset Management Inc. purchased a new stake in shares of Digi International in the first quarter worth $269,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Digi International Price Performance

Shares of Digi International stock opened at $22.70 on Thursday. The company has a market cap of $825.71 million, a PE ratio of 59.74, a P/E/G ratio of 0.79 and a beta of 1.07. The business has a 50 day moving average of $25.00 and a 200 day moving average of $27.13. Digi International has a 52 week low of $21.25 and a 52 week high of $42.95. The company has a quick ratio of 1.28, a current ratio of 2.05 and a debt-to-equity ratio of 0.31.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $107.70 million for the quarter, compared to analysts’ expectations of $106.97 million. Digi International had a return on equity of 11.61% and a net margin of 3.20%. As a group, equities research analysts forecast that Digi International will post 1.7 earnings per share for the current year.

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.