Digi International (NASDAQ:DGII) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Digi International Inc. (NASDAQ:DGII) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.28 and traded as high as $37.47. Digi International shares last traded at $36.42, with a volume of 172,832 shares trading hands.

Analyst Upgrades and Downgrades

DGII has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Digi International in a research note on Saturday, September 27th. Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Digi International in a research report on Tuesday, August 19th. Piper Sandler lifted their target price on Digi International from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Roth Capital restated a “buy” rating on shares of Digi International in a research note on Thursday, August 7th. Finally, B. Riley upped their target price on shares of Digi International from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Digi International has a consensus rating of “Moderate Buy” and a consensus target price of $38.75.

Digi International Stock Down 1.3%

The business has a 50-day moving average price of $34.61 and a 200 day moving average price of $32.28. The company has a current ratio of 1.43, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.35 billion, a P/E ratio of 31.95, a P/E/G ratio of 1.19 and a beta of 0.95.

Digi International (NASDAQ:DGII) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. Digi International had a net margin of 10.14% and a return on equity of 10.96%. The company had revenue of $107.51 million for the quarter, compared to analysts’ expectations of $106.23 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. Digi International’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts expect that Digi International Inc. will post 1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Digi International

Several large investors have recently added to or reduced their stakes in the stock. Geneva Capital Management LLC raised its position in Digi International by 5.9% during the second quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company’s stock valued at $60,322,000 after purchasing an additional 95,756 shares during the period. Ameriprise Financial Inc. raised its holdings in Digi International by 7.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock valued at $22,736,000 after buying an additional 46,659 shares during the period. Pacer Advisors Inc. lifted its position in Digi International by 2,297.0% in the first quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company’s stock worth $6,624,000 after buying an additional 228,089 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in Digi International in the second quarter worth $4,293,000. Finally, Jones Financial Companies Lllp boosted its stake in Digi International by 9,344.7% during the first quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock worth $3,023,000 after buying an additional 107,464 shares during the period. 95.90% of the stock is owned by institutional investors.

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.