Digi International (NASDAQ:DGII) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Digi International Inc. (NASDAQ:DGII)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.12 and traded as high as $34.90. Digi International shares last traded at $34.50, with a volume of 143,647 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DGII. Craig Hallum reiterated a “hold” rating and issued a $32.00 target price (up previously from $28.00) on shares of Digi International in a report on Thursday, November 14th. Piper Sandler increased their target price on shares of Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. StockNews.com upgraded Digi International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Stephens restated an “overweight” rating and set a $45.00 price target on shares of Digi International in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.75.

Digi International Trading Down 0.8 %

The company has a market capitalization of $1.27 billion, a P/E ratio of 35.94, a P/E/G ratio of 1.27 and a beta of 1.06. The company has a 50-day simple moving average of $31.56 and a 200 day simple moving average of $30.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.61.

Digi International (NASDAQ:DGII) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. Sell-side analysts expect that Digi International Inc. will post 1.65 earnings per share for the current year.

Insider Activity at Digi International

In other Digi International news, VP Terrence G. Schneider sold 2,808 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $33.06, for a total value of $92,832.48. Following the transaction, the vice president now directly owns 39,002 shares in the company, valued at $1,289,406.12. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Satbir Khanuja sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the completion of the sale, the director now owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,329 shares of company stock valued at $332,361 over the last quarter. 3.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DGII. Sterling Capital Management LLC boosted its position in shares of Digi International by 868.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,025 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Digi International in the 4th quarter valued at $45,000. KLP Kapitalforvaltning AS bought a new position in Digi International during the fourth quarter worth about $196,000. Bearing Point Capital LLC acquired a new position in shares of Digi International in the 4th quarter valued at approximately $212,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Digi International by 110.2% during the fourth quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock worth $300,000 after acquiring an additional 5,207 shares during the period. Institutional investors own 95.90% of the company’s stock.

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.