Digi International (NASDAQ:DGII) Shares Up 4.3% After Analyst Upgrade

Digi International Inc. (NASDAQ:DGII)’s share price shot up 4.3% on Thursday after Piper Sandler raised their price target on the stock from $26.00 to $32.00. Piper Sandler currently has a neutral rating on the stock. Digi International traded as high as $34.09 and last traded at $33.36. 74,796 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 191,841 shares. The stock had previously closed at $31.97.

Separately, Craig Hallum reissued a “hold” rating and issued a $32.00 price target (up previously from $28.00) on shares of Digi International in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Digi International currently has an average rating of “Moderate Buy” and an average target price of $36.20.

Hedge Funds Weigh In On Digi International

A number of hedge funds have recently made changes to their positions in DGII. SG Americas Securities LLC boosted its position in shares of Digi International by 92.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after purchasing an additional 3,911 shares during the period. Verity Asset Management Inc. purchased a new position in shares of Digi International during the 1st quarter worth approximately $269,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Digi International during the 2nd quarter worth approximately $498,000. Captrust Financial Advisors boosted its position in shares of 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 purchasing an additional 2,418 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Digi International by 51.8% during 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 period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Digi International Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.31 and a current ratio of 2.00. The stock has a market cap of $1.15 billion, a PE ratio of 67.11, a PEG ratio of 1.09 and a beta of 1.06. The stock’s 50-day moving average is $28.98 and its two-hundred day moving average is $26.75.

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.