Digi International Inc. (DGII) Rating Lowered to Strong Sell at BidaskClub
BidaskClub lowered shares of Digi International Inc. (NASDAQ:DGII) from a sell rating to a strong sell rating in a report released on Monday morning.
A number of other brokerages also recently weighed in on DGII. Canaccord Genuity reaffirmed a buy rating and issued a $15.00 target price on shares of Digi International in a report on Friday, July 28th. Zacks Investment Research downgraded Digi International from a hold rating to a sell rating in a report on Tuesday, May 9th. Benchmark Co. initiated coverage on Digi International in a report on Tuesday, April 25th. They set a buy rating and a $16.00 price objective on the stock. TheStreet downgraded Digi International from a b- rating to a c+ rating in a report on Tuesday, May 30th. Finally, Sidoti raised Digi International from a neutral rating to a buy rating in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Digi International currently has a consensus rating of Buy and an average target price of $14.50.
Shares of Digi International (NASDAQ DGII) traded up 1.06% during trading on Monday, reaching $9.55. The company’s stock had a trading volume of 56,943 shares. The firm’s 50-day moving average is $9.96 and its 200 day moving average is $11.33. Digi International has a 52-week low of $9.00 and a 52-week high of $14.15. The company has a market cap of $253.45 million, a PE ratio of 29.03 and a beta of 1.45.
Digi International (NASDAQ:DGII) last issued its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. The firm had revenue of $45.70 million for the quarter, compared to the consensus estimate of $45.67 million. Digi International had a return on equity of 3.17% and a net margin of 4.74%. The company’s revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. On average, equities research analysts predict that Digi International will post $0.27 EPS for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in DGII. State Street Corp increased its stake in Digi International by 3.4% in the fourth quarter. State Street Corp now owns 710,559 shares of the technology company’s stock valued at $9,769,000 after buying an additional 23,146 shares during the period. Ameriprise Financial Inc. increased its stake in Digi International by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 534,143 shares of the technology company’s stock valued at $6,357,000 after buying an additional 11,347 shares during the period. Bank of New York Mellon Corp increased its stake in Digi International by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 478,009 shares of the technology company’s stock valued at $5,689,000 after buying an additional 3,433 shares during the period. Geode Capital Management LLC increased its stake in Digi International by 2.9% in the first quarter. Geode Capital Management LLC now owns 212,705 shares of the technology company’s stock valued at $2,531,000 after buying an additional 6,068 shares during the period. Finally, Gabelli Funds LLC increased its stake in Digi International by 13.2% in the first quarter. Gabelli Funds LLC now owns 171,342 shares of the technology company’s stock valued at $2,039,000 after buying an additional 20,000 shares during the period. 76.86% of the stock is currently owned by institutional investors.
About Digi International
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
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