Digi International Inc. (NASDAQ:DGII) shares reached a new 52-week low on Wednesday . The stock traded as low as $8.90 and last traded at $8.90, with a volume of 134,527 shares. The stock had previously closed at $9.05.

Several research firms have weighed in on DGII. Benchmark Co. began coverage on Digi International in a report on Tuesday, April 25th. They set a “buy” rating and a $16.00 target price on the stock. BidaskClub lowered Digi International from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Digi International from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, August 1st. Canaccord Genuity reiterated a “buy” rating and set a $15.00 target price on shares of Digi International in a report on Friday, July 28th. Finally, Sidoti upgraded Digi International from a “neutral” rating to a “buy” rating in a report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.50.

The stock has a market cap of $234.87 million, a P/E ratio of 26.90 and a beta of 1.45. The company’s 50 day moving average price is $9.79 and its 200 day moving average price is $11.01.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. Digi International had a return on equity of 3.17% and a net margin of 4.74%. The firm had revenue of $45.70 million during the quarter, compared to the consensus estimate of $45.67 million. During the same period last year, the business posted $0.16 EPS. The business’s revenue was down 12.3% compared to the same quarter last year. Equities research analysts anticipate that Digi International Inc. will post $0.27 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial For Lutherans boosted its position in Digi International by 6.3% in the first quarter. Thrivent Financial For Lutherans now owns 14,920 shares of the technology company’s stock worth $178,000 after buying an additional 880 shares during the period. OppenheimerFunds Inc. bought a new position in Digi International during the first quarter worth about $148,000. Arizona State Retirement System boosted its position in Digi International by 3.0% in the first quarter. Arizona State Retirement System now owns 13,741 shares of the technology company’s stock worth $164,000 after buying an additional 400 shares during the period. SG Americas Securities LLC bought a new position in Digi International during the first quarter worth about $106,000. Finally, Ameriprise Financial Inc. boosted its position in Digi International by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 534,143 shares of the technology company’s stock worth $6,357,000 after buying an additional 11,347 shares during the period. 76.88% of the stock is currently owned by institutional investors.

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Digi International Company Profile

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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