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

Digi International Inc. (NASDAQ:DGII) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $28.53 and traded as high as $30.39. Digi International shares last traded at $29.63, with a volume of 241,296 shares changing hands.

Analysts Set New Price Targets

DGII has been the topic of several research analyst reports. StockNews.com raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Piper Sandler upped their target price on Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Craig Hallum reaffirmed a “hold” rating and issued a $32.00 price target (up previously 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $36.75.

Digi International Price Performance

The company has a market capitalization of $1.09 billion, a PE ratio of 48.57, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average is $31.66 and its 200-day moving average is $28.53.

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

Insiders Place Their Bets

In other news, VP Terrence G. Schneider sold 2,808 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the transaction, the vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the director now directly owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. This trade represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,329 shares of company stock valued at $332,361. 3.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Digi International

A number of institutional investors have recently made changes to their positions in DGII. Captrust Financial Advisors raised its holdings in Digi International by 13.5% during the 3rd quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock valued at $560,000 after buying an additional 2,418 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 acquiring an additional 6,534 shares during the period. Rhumbline Advisers raised its stake 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 acquiring an additional 7,208 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Digi International by 51.8% during the third 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 grew its stake 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 worth $466,000 after purchasing an additional 8,788 shares during the last quarter. Hedge funds and other 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.