Digi International (NASDAQ:DGII) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Digi International Inc. (NASDAQ:DGII) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.67 and traded as high as $30.57. Digi International shares last traded at $30.51, with a volume of 92,260 shares traded.

Wall Street Analyst Weigh In

DGII has been the topic of a number of recent analyst reports. Piper Sandler decreased their price target 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 target price on Digi International from $32.00 to $28.00 and set a “buy” rating on the stock in a research note 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.20.

Digi International Stock Performance

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 stock has a market capitalization of $1.09 billion, a PE ratio of 78.50, a P/E/G ratio of 0.98 and a beta of 1.07. The firm has a fifty day moving average price of $28.53 and a two-hundred day moving average price of $26.66.

Digi International (NASDAQ:DGII) last released 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 business had revenue of $105.20 million for the quarter, compared to analyst estimates of $105.60 million. Digi International had a return on equity of 11.32% and a net margin of 3.94%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Research analysts expect that Digi International Inc. will post 1.67 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of Digi International in the 1st quarter valued at about $139,000. SG Americas Securities LLC lifted 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 worth $187,000 after buying an additional 3,911 shares during the period. Verity Asset Management Inc. bought a new stake in Digi International during the 1st quarter valued at $269,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Digi International in the 2nd quarter valued at $498,000. Finally, BNP Paribas Financial Markets raised its position in shares of Digi International by 52.6% in the 1st quarter. BNP Paribas Financial Markets now owns 29,940 shares of the technology company’s stock worth $956,000 after acquiring an additional 10,317 shares in the last quarter. Institutional investors 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.