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

Digi International Inc. (NASDAQ:DGII) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.08 and traded as high as $31.06. Digi International shares last traded at $30.40, with a volume of 144,906 shares trading hands.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Craig Hallum restated a “hold” rating and issued a $32.00 price target (up previously from $28.00) on shares of Digi International in a report on Thursday, November 14th. Finally, StockNews.com raised Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.13 and a current ratio of 1.73. The company has a 50-day moving average of $31.70 and a 200-day moving average of $28.17. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 49.84, a P/E/G ratio of 1.21 and a beta of 1.05.

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

Insiders Place Their Bets

In related news, Director Satbir Khanuja sold 7,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $31.76, for a total value of $222,320.00. Following the completion of the transaction, the director now directly owns 83,255 shares in the company, valued at approximately $2,644,178.80. This represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $33.06, for a total value of $92,832.48. Following the transaction, the vice president now owns 39,002 shares in the company, valued at $1,289,406.12. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,329 shares of company stock valued at $332,361 in the last ninety days. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in Digi International by 108.0% in the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after purchasing an additional 8,788 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in shares of Digi International in the 2nd quarter valued at $498,000. Captrust Financial Advisors increased its holdings 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 buying an additional 2,418 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Digi International by 51.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after buying an additional 8,235 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Digi International by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock worth $2,627,000 after buying an additional 7,208 shares during the period. Institutional investors and hedge funds 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.