Digi International (NASDAQ:DGII) Stock Crosses Above 200-Day Moving Average – Here’s Why

Digi International Inc. (NASDAQ:DGII) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $33.69 and traded as high as $38.95. Digi International shares last traded at $38.14, with a volume of 149,532 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DGII. Piper Sandler boosted their target price on shares of Digi International from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. B. Riley boosted their target price on shares of Digi International from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Digi International in a research note on Wednesday, October 8th. Roth Capital restated a “buy” rating on shares of Digi International in a report on Thursday, August 7th. Finally, Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Digi International in a report on Tuesday, August 19th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Digi International presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.75.

Digi International Stock Down 1.4%

The business has a fifty day moving average of $36.32 and a 200 day moving average of $33.69. The company has a market capitalization of $1.42 billion, a PE ratio of 33.46, a PEG ratio of 1.25 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, August 6th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Digi International had a return on equity of 10.96% and a net margin of 10.14%.The company had revenue of $107.51 million during the quarter, compared to analysts’ expectations of $106.23 million. During the same period last year, the business posted $0.50 EPS. Digi International’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Digi International Inc. will post 1.68 EPS for the current year.

Hedge Funds Weigh In On Digi International

Several hedge funds and other institutional investors have recently made changes to their positions in DGII. Pacer Advisors Inc. boosted its stake in shares of Digi International by 2,297.0% in the 1st quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company’s stock valued at $6,624,000 after buying an additional 228,089 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Digi International in the 2nd quarter valued at about $4,293,000. Jones Financial Companies Lllp boosted its stake in shares of Digi International by 9,344.7% in the 1st quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock valued at $3,023,000 after buying an additional 107,464 shares during the period. Geneva Capital Management LLC boosted its stake in shares of Digi International by 5.9% in the 2nd quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company’s stock valued at $60,322,000 after buying an additional 95,756 shares during the period. Finally, Herald Investment Management Ltd purchased a new position in shares of Digi International in the 1st quarter valued at about $2,226,000. Hedge funds and other institutional investors 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.