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

Shares of Digi International Inc. (NASDAQ:DGII) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.77 and traded as high as $29.87. Digi International shares last traded at $29.41, with a volume of 67,641 shares traded.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Craig Hallum lowered their price objective on Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Digi International Trading Down 0.5 %

The company has a current ratio of 2.00, a quick ratio of 1.31 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $27.75 and its 200 day moving average price is $26.77. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 77.39, a P/E/G ratio of 0.98 and a beta of 1.07.

Digi International (NASDAQ:DGII) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Digi International had a return on equity of 11.32% and a net margin of 3.94%. The business had revenue of $105.20 million for the quarter, compared to the consensus estimate of $105.60 million. During the same period in the prior year, the business earned $0.44 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts expect that Digi International Inc. will post 1.67 EPS for the current year.

Institutional Investors Weigh In On Digi International

A number of institutional investors and hedge funds have recently made changes to their positions in the business. NBC Securities Inc. bought a new stake in shares of Digi International in the 1st quarter worth $78,000. GAMMA Investing LLC boosted its position in Digi International by 687.7% during the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after purchasing an additional 839 shares during the period. BNP Paribas Financial Markets grew its stake in Digi International by 52.6% in the 1st quarter. BNP Paribas Financial Markets now owns 29,940 shares of the technology company’s stock valued at $956,000 after buying an additional 10,317 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Digi International in the first quarter valued at $139,000. Finally, Geneva Capital Management LLC increased its position in shares of Digi International by 20.9% during the first quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock valued at $53,887,000 after buying an additional 291,618 shares during the period. Institutional investors and hedge funds 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.