Digi International (NASDAQ:DGII) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Digi International Inc. (NASDAQ:DGII)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $30.12 and traded as high as $34.90. Digi International shares last traded at $34.50, with a volume of 143,647 shares trading hands.

Wall Street Analyst Weigh In

DGII has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Stephens reiterated an “overweight” rating and set a $45.00 target price on shares of Digi International in a research report on Thursday, February 6th. Craig Hallum reiterated a “hold” rating and set a $32.00 target price (up from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.75.

Digi International Trading Down 0.1 %

The stock has a market capitalization of $1.28 billion, a P/E ratio of 36.24, a PEG ratio of 1.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.06. The business’s 50 day simple moving average is $31.60 and its 200-day simple moving average is $30.23.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. As a group, analysts forecast that Digi International Inc. will post 1.68 EPS for the current year.

Insiders Place Their Bets

In related news, VP Terrence G. Schneider sold 2,808 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $33.06, for a total transaction of $92,832.48. Following the sale, the vice president now directly owns 39,002 shares in the company, valued at $1,289,406.12. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Satbir Khanuja sold 7,000 shares of the firm’s stock in a transaction on 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 owns 83,255 shares in the company, valued at approximately $2,644,178.80. The trade was a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,329 shares of company stock worth $332,361. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Digi International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC increased its stake in Digi International by 868.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company’s stock valued at $35,000 after buying an additional 1,025 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Digi International in the 4th quarter valued at $45,000. KLP Kapitalforvaltning AS acquired a new stake in Digi International in the 4th quarter valued at $196,000. Bearing Point Capital LLC bought a new position in shares of Digi International in the 4th quarter valued at about $212,000. Finally, Pacer Advisors Inc. grew its position in shares of Digi International by 110.2% in the 4th quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock valued at $300,000 after acquiring an additional 5,207 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.