Digi International (NASDAQ:DGII) Stock Rating Upgraded by StockNews.com

Digi International (NASDAQ:DGII) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

A number of other equities analysts have also weighed in on DGII. Piper Sandler lifted their price objective on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Craig Hallum reaffirmed 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. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.75.

Digi International Stock Performance

Shares of NASDAQ:DGII traded up $0.62 on Thursday, reaching $32.25. The company’s stock had a trading volume of 261,259 shares, compared to its average volume of 197,737. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.13. Digi International has a 52-week low of $20.17 and a 52-week high of $34.82. The stock’s 50-day moving average is $31.63 and its two-hundred day moving average is $27.83. The stock has a market capitalization of $1.19 billion, a P/E ratio of 52.87, a PEG ratio of 1.21 and a beta of 1.05.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The firm had revenue of $105.05 million during the quarter, compared to the consensus estimate of $104.16 million. During the same period in the prior year, the business earned $0.44 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Digi International will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other news, VP Terrence G. Schneider sold 2,808 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the sale, the vice president now owns 39,002 shares of the company’s stock, valued at $1,289,406.12. The trade was a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Satbir Khanuja sold 7,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 83,255 shares in the company, valued at approximately $2,644,178.80. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,329 shares of company stock worth $332,361. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of Digi International by 92.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after purchasing an additional 3,911 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Digi International by 13.5% in the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after acquiring an additional 2,418 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Digi International in the second quarter valued at $498,000. BNP Paribas Financial Markets boosted its stake in shares of Digi International by 51.8% during the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock valued at $664,000 after acquiring an additional 8,235 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake 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 valued at $2,627,000 after acquiring an additional 7,208 shares during the last quarter. Institutional investors and hedge funds 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.