Digi International (NASDAQ:DGII) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Digi International Inc. (NASDAQ:DGII) shares crossed 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 trading hands.

Analyst Upgrades and Downgrades

DGII has been the topic of several research analyst reports. StockNews.com raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Craig Hallum reiterated a “hold” rating and issued a $32.00 price objective (up from $28.00) on shares of Digi International in a report on Thursday, November 14th. Finally, Piper Sandler boosted their target price on Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Trading Up 0.2 %

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

Digi International (NASDAQ:DGII) last released its earnings results on Wednesday, November 13th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $105.05 million for the quarter, compared to the consensus estimate of $104.16 million. Digi International had a net margin of 5.31% and a return on equity of 11.24%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. Equities research analysts anticipate that Digi International Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity

In other news, Director Satbir Khanuja sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were 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 $2,644,178.80. The trade was a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Terrence G. Schneider sold 2,808 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the completion of the transaction, the vice president now directly owns 39,002 shares of the company’s stock, valued at $1,289,406.12. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,329 shares of company stock worth $332,361. Insiders own 3.30% of the company’s stock.

Institutional Trading of Digi International

Several large investors have recently added to or reduced their stakes in the company. Geneva Capital Management LLC boosted its position 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 buying an additional 79,313 shares during the period. Geode Capital Management LLC lifted its stake in Digi International by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after acquiring an additional 11,239 shares in the last quarter. SG Americas Securities LLC lifted its stake in Digi International by 108.0% in the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock worth $466,000 after acquiring an additional 8,788 shares in the last quarter. BNP Paribas Financial Markets boosted its position in 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 acquiring an additional 8,235 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Digi International by 110.2% during the 4th quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock valued at $300,000 after acquiring an additional 5,207 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.