Digi International (NASDAQ:DGII) Shares Cross Above 200 Day Moving Average - Should You Sell?

Shares of Digi International Inc. (NASDAQ:DGII - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.81 and traded as high as $29.50. Digi International shares last traded at $29.50, with a volume of 239,895 shares traded.

Analysts Set New Price Targets

DGII has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Digi International from $26.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. StockNews.com raised shares of Digi International from a "buy" rating to a "strong-buy" rating in a research note on Thursday, December 19th. Finally, Craig Hallum restated a "hold" rating and set a $32.00 price target (up from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.75.

Digi International Stock Performance

The company has a market cap of $1.11 billion, a P/E ratio of 49.51, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07. The company's 50-day moving average price is $31.60 and its two-hundred day moving average price is $28.81. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21.

Digi International (NASDAQ:DGII - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The business had revenue of $105.05 million during the quarter, compared to analyst estimates of $104.16 million. During the same quarter last year, the company posted $0.44 EPS. Digi International's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that Digi International Inc. will post 1.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Terrence G. Schneider sold 2,808 shares of the business'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 transaction, the vice president now directly owns 39,002 shares in the company, valued at $1,289,406.12. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Satbir Khanuja sold 7,000 shares of the company'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 completion of the transaction, the director now directly owns 83,255 shares in the company, valued at $2,644,178.80. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,329 shares of company stock worth $332,361. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Digi International

A number of hedge funds have recently added to or reduced their stakes in DGII. Geneva Capital Management LLC lifted its stake in shares of Digi International by 5.0% in the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company's stock valued at $45,560,000 after purchasing an additional 79,313 shares during the last quarter. Geode Capital Management LLC raised its holdings in Digi International by 1.3% during the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company's stock valued at $24,074,000 after buying an additional 11,239 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Digi International by 108.0% in the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company's stock worth $466,000 after buying an additional 8,788 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Digi International by 51.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company's stock worth $664,000 after acquiring an additional 8,235 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Digi International by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 114,584 shares of the technology company's stock valued at $2,627,000 after acquiring an additional 7,208 shares during the last quarter. Institutional investors and hedge funds 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.