Digi International (NASDAQ:DGII) Shares Gap Down – What’s Next?

Digi International Inc. (NASDAQ:DGII) shares gapped down prior to trading on Monday . The stock had previously closed at $30.70, but opened at $29.17. Digi International shares last traded at $29.17, with a volume of 200 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DGII shares. Piper Sandler decreased their target price on Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Craig Hallum decreased their price objective on shares of Digi International from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Digi International Stock Performance

The firm has a fifty day moving average of $28.40 and a 200-day moving average of $26.71. The company has a quick ratio of 1.31, a current ratio of 2.00 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.10 billion, a P/E ratio of 79.39, a PEG ratio of 0.98 and a beta of 1.07.

Digi International (NASDAQ:DGII) last posted its quarterly 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. Digi International had a net margin of 3.94% and a return on equity of 11.32%. The business had revenue of $105.20 million during the quarter, compared to the consensus estimate of $105.60 million. During the same period in the previous year, the firm posted $0.44 earnings per share. Digi International’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts predict that Digi International Inc. will post 1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digi International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Digi International by 687.7% during the 1st quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after buying an additional 839 shares during the period. SG Americas Securities LLC grew its holdings in Digi International by 92.5% during the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock valued at $187,000 after purchasing an additional 3,911 shares during the period. Central Pacific Bank Trust Division bought a new stake in Digi International in the first quarter valued at approximately $139,000. Bank of New York Mellon Corp raised its holdings in Digi International by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock worth $7,172,000 after purchasing an additional 6,534 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Digi International by 6.7% during the second quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock worth $2,627,000 after purchasing an additional 7,208 shares in the last quarter. 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.