Digi International (NASDAQ:DGII) Stock Price Up 18.4% - What's Next?

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

Wall Street Analysts Forecast Growth

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

Digi International Stock Up 1.5 %

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 37.13, a P/E/G ratio of 1.27 and a beta of 1.06. The firm's 50 day moving average price is $31.33 and its two-hundred day moving average price is $29.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.13.

Digi International (NASDAQ:DGII - Get Free Report) last released its earnings results 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, sell-side analysts forecast that Digi International Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Activity at Digi International

In other Digi International news, Director Satbir Khanuja sold 7,000 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the sale, the director now owns 83,255 shares of the company's stock, valued at $2,644,178.80. This represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Terrence G. Schneider sold 2,808 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $33.06, for a total value of $92,832.48. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 10,329 shares of company stock worth $332,361 over the last 90 days. Company insiders own 3.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Digi International by 110.2% in the fourth quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company's stock valued at $300,000 after buying an additional 5,207 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Digi International by 108.0% during the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company's stock worth $466,000 after purchasing an additional 8,788 shares during the period. Captrust Financial Advisors boosted its holdings 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 worth $560,000 after purchasing an additional 2,418 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Digi International by 51.8% in the third 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 during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Digi International by 1.3% during the 3rd 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 during the period. 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.