Digi International (NASDAQ:DGII) Stock Price Crosses Above 200 Day Moving Average of $26.91

Shares of Digi International Inc. (NASDAQ:DGII) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.91 and traded as high as $26.96. Digi International shares last traded at $26.74, with a volume of 101,615 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on DGII shares. Piper Sandler cut their target price on Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. StockNews.com upgraded shares of Digi International from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. Finally, Craig Hallum decreased their target price on shares of 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Digi International has an average rating of “Moderate Buy” and an average target price of $34.20.

Digi International Price Performance

The company has a 50 day moving average of $27.16 and a two-hundred day moving average of $26.89. The firm has a market cap of $991.58 million, a P/E ratio of 71.74, a PEG ratio of 0.95 and a beta of 1.07. The company has a quick ratio of 1.31, a current ratio of 2.00 and a debt-to-equity ratio of 0.27.

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

Institutional Investors Weigh In On Digi International

Several large investors have recently modified their holdings of DGII. GAMMA Investing LLC lifted its holdings in shares of Digi International by 687.7% during the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock valued at $31,000 after purchasing an additional 839 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Digi International in the first quarter worth about $33,000. NBC Securities Inc. purchased a new position in shares of Digi International in the first quarter worth approximately $78,000. Central Pacific Bank Trust Division acquired a new stake in shares of Digi International during the first quarter valued at approximately $139,000. Finally, SG Americas Securities LLC raised its holdings in shares of Digi International by 92.5% during the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock valued at $187,000 after acquiring an additional 3,911 shares during the period. 95.90% of the stock is owned by institutional investors.

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.