Digi International (NASDAQ:DGII) Shares Cross Above 200 Day Moving Average – What’s Next?

Digi International Inc. (NASDAQ:DGII) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.67 and traded as high as $30.57. Digi International shares last traded at $30.51, with a volume of 92,260 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Craig Hallum dropped their price target 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. Piper Sandler dropped their price target on shares of Digi International from $27.00 to $26.00 and set a “neutral” 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Digi International Price Performance

The firm’s fifty day moving average price is $28.48 and its 200 day moving average price is $26.67. The company has a quick ratio of 1.31, a current ratio of 2.00 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.11 billion, a PE ratio of 80.29, a P/E/G ratio of 0.98 and a beta of 1.07.

Digi International (NASDAQ:DGII) last released its earnings results on Wednesday, August 7th. The technology company reported $0.50 EPS for the quarter, topping 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 firm had revenue of $105.20 million for the quarter, compared to the consensus estimate of $105.60 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts expect that Digi International Inc. will post 1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Digi International

Several institutional investors have recently bought and sold shares of DGII. BNP Paribas Financial Markets lifted its position in Digi International by 52.6% during the first quarter. BNP Paribas Financial Markets now owns 29,940 shares of the technology company’s stock valued at $956,000 after purchasing an additional 10,317 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Digi International in the 1st quarter worth about $139,000. Geneva Capital Management LLC lifted its holdings in shares of Digi International by 20.9% in the 1st 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 last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Digi International by 1,814.0% in the 1st 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 last quarter. Finally, Summit Creek Advisors LLC lifted its holdings in shares of Digi International by 13.9% in the 1st 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 last quarter. Institutional investors 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.