Digi International (NASDAQ:DGII) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Digi International Inc. (NASDAQ:DGIIGet Free Report)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $29.40 and traded as high as $31.30. Digi International shares last traded at $30.72, with a volume of 177,584 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 reissued a “hold” rating and set a $32.00 price objective (up previously from $28.00) on shares of Digi International in a research 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Digi International presently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

Read Our Latest Research Report on Digi International

Digi International Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.13 and a current ratio of 1.73. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 50.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.07. The firm’s 50-day simple moving average is $31.44 and its 200-day simple moving average is $29.40.

Digi International (NASDAQ:DGIIGet Free Report) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, beating 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 business had revenue of $105.05 million for the quarter, compared to analyst estimates of $104.16 million. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts forecast that Digi International Inc. will post 1.65 earnings per share for the current year.

Insider Transactions at Digi International

In other news, Director Satbir Khanuja sold 7,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $31.76, for a total transaction of $222,320.00. Following the sale, the director now owns 83,255 shares in the company, valued at approximately $2,644,178.80. This represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Terrence G. Schneider sold 2,808 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 10,329 shares of company stock valued at $332,361. 3.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Digi International

Hedge funds have recently added to or reduced their stakes in the stock. Geneva Capital Management LLC raised its stake in shares of Digi International by 5.0% in the third quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock worth $45,560,000 after acquiring an additional 79,313 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Digi International by 1.3% in the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock valued at $24,074,000 after purchasing an additional 11,239 shares in the last quarter. BNP Paribas Financial Markets raised its position in Digi International by 51.8% in 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 last quarter. Captrust Financial Advisors lifted 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 worth $560,000 after buying an additional 2,418 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in 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. Institutional investors own 95.90% of the company’s stock.

Digi International Company Profile

(Get Free Report)

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.

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