Digi International (NASDAQ:DGII) Sees Large Volume Increase – What’s Next?

Digi International Inc. (NASDAQ:DGII) shares saw strong trading volume on Tuesday. Approximately 323,081 shares traded hands during trading, a decline of 6% from the previous session’s volume of 345,133 shares. The stock last traded at $74.8850 and had previously closed at $74.56.

Wall Street Analyst Weigh In

DGII has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Digi International from $63.00 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Weiss Ratings raised Digi International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Stephens lifted their price objective on shares of Digi International from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. B. Riley Financial lifted their price objective on shares of Digi International from $78.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Zacks Research cut shares of Digi International from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.40.

Digi International Stock Down 0.8%

The firm has a market capitalization of $2.81 billion, a P/E ratio of 58.92 and a beta of 0.96. The firm’s 50 day moving average is $74.49 and its two-hundred day moving average is $66.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 0.78.

Digi International (NASDAQ:DGII) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $138.67 million for the quarter, compared to analyst estimates of $132.57 million. Digi International had a net margin of 9.63% and a return on equity of 12.16%. The company’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. Digi International has set its Q4 2026 guidance at 0.750-0.780 EPS. Research analysts predict that Digi International Inc. will post 2.31 EPS for the current year.

Institutional Investors Weigh In On Digi International

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Digi International during the second quarter worth approximately $445,526,000. Bank of America Corp DE acquired a new stake in shares of Digi International in the second quarter valued at approximately $92,680,000. Port Capital LLC bought a new position in shares of Digi International during the 2nd quarter worth approximately $24,064,000. Bank of New York Mellon Corp bought a new position in shares of Digi International during the 2nd quarter worth approximately $16,274,000. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Digi International by 3.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 199,635 shares of the technology company’s stock worth $9,622,000 after acquiring an additional 6,480 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Digi International

Digi International Inc (NASDAQ: DGII) provides business and industrial Internet of Things (IoT) connectivity products and solutions. The company helps organizations connect, monitor and manage equipment, sensors and other devices over cellular, wireless and wired networks.

Its product portfolio includes industrial routers and gateways, embedded systems and wireless modules, console servers, serial connectivity products and infrastructure for machine-to-machine communications. Digi also offers cloud-based device management and monitoring through Digi Remote Manager, along with professional services and support designed to help customers deploy and maintain connected devices.

Digi’s solutions are used across industries such as transportation, energy, healthcare, manufacturing, retail, government and commercial services.