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

Digi International Inc. (NASDAQ:DGII) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,500,000 shares, an increase 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 presently 13.4 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DGII. StockNews.com raised shares of Digi International from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. Piper Sandler downgraded shares of Digi International from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $35.00 to $29.00 in a report on Wednesday, May 22nd. Finally, Roth Mkm lowered their price target on shares of Digi International from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Verity Asset Management Inc. bought a new position in shares of Digi International in the first quarter worth approximately $269,000. Summit Creek Advisors LLC lifted its stake in Digi International by 13.9% in the first quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock worth $10,819,000 after acquiring an additional 41,392 shares during the period. Russell Investments Group Ltd. lifted its stake in Digi International by 1,814.0% in the first quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock worth $1,844,000 after acquiring an additional 54,746 shares during the period. Geneva Capital Management LLC lifted its stake in Digi International by 20.9% in the first quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock worth $53,887,000 after acquiring an additional 291,618 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in Digi International in the first quarter worth $139,000. Institutional investors own 95.90% of the company’s stock.

Digi International Stock Down 0.1 %

Shares of NASDAQ DGII opened at $22.91 on Tuesday. Digi International has a one year low of $21.25 and a one year high of $42.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.28. The firm’s 50 day simple moving average is $25.31 and its two-hundred day simple moving average is $27.17. The stock has a market capitalization of $833.47 million, a P/E ratio of 60.29, a PEG ratio of 0.79 and a beta of 1.07.

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