Digi International (NASDAQ:DGII) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Digi International Inc. (NASDAQ:DGII) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.77 and traded as high as $29.87. Digi International shares last traded at $29.41, with a volume of 67,641 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DGII. Piper Sandler dropped their price objective on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Craig Hallum dropped their price target on shares of Digi International from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.20.

Digi International Trading Up 3.0 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.00 and a quick ratio of 1.31. The firm’s fifty day moving average is $28.00 and its two-hundred day moving average is $26.73. The firm has a market capitalization of $1.11 billion, a PE ratio of 80.42, a PEG ratio of 0.98 and a beta of 1.07.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The firm had revenue of $105.20 million for the quarter, compared to the consensus estimate of $105.60 million. Digi International had a return on equity of 11.32% and a net margin of 3.94%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. On average, equities analysts predict that Digi International Inc. will post 1.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Digi International

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in Digi International by 108.0% during the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after buying an additional 8,788 shares during the period. Cornercap Investment Counsel Inc. bought a new position in shares of Digi International during the 2nd quarter worth $498,000. Rhumbline Advisers increased its holdings in 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 acquiring an additional 7,208 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Digi International by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock valued at $7,172,000 after acquiring an additional 6,534 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Digi International by 216.7% during the second quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock valued at $2,091,000 after purchasing an additional 62,402 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.