Digi International (NASDAQ:DGII) Trading Up 18.4% – Should You Buy?

Digi International Inc. (NASDAQ:DGII) shares traded up 18.4% during mid-day trading on Thursday . The company traded as high as $35.52 and last traded at $36.01. 59,181 shares were traded during trading, a decline of 70% from the average session volume of 194,897 shares. The stock had previously closed at $30.41.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DGII shares. Piper Sandler upped their target price on Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Stephens restated an “overweight” rating and issued a $45.00 price objective on shares of Digi International in a research note on Thursday. StockNews.com upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Craig Hallum reissued a “hold” rating and issued a $32.00 price target (up previously from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Digi International presently has an average rating of “Moderate Buy” and an average price target of $36.75.

Digi International Stock Down 1.6 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $31.29 and a 200-day simple moving average of $29.64. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 1.27 and a beta of 1.06.

Digi International (NASDAQ:DGII) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. On average, sell-side analysts forecast that Digi International Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity

In related news, VP Terrence G. Schneider sold 2,808 shares of Digi International stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $33.06, for a total value of $92,832.48. Following the completion of the transaction, the vice president now directly owns 39,002 shares of the company’s stock, valued at $1,289,406.12. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Satbir Khanuja sold 7,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $31.76, for a total transaction of $222,320.00. Following the sale, the director now directly owns 83,255 shares in the company, valued at approximately $2,644,178.80. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,329 shares of company stock worth $332,361. Insiders own 3.30% of the company’s stock.

Institutional Trading of Digi International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geneva Capital Management LLC lifted its holdings in Digi International by 5.0% during the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock worth $45,560,000 after buying an additional 79,313 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Digi International by 1.3% during the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after acquiring an additional 11,239 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Digi International by 51.8% during the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock valued at $664,000 after acquiring an additional 8,235 shares during the period. Captrust Financial Advisors lifted its stake in shares of Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock valued at $560,000 after acquiring an additional 2,418 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Digi International by 108.0% in the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after acquiring an additional 8,788 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Digi International

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.