Digi International (NASDAQ:DGII) Stock Price Down 3.3% - Here's Why

Shares of Digi International Inc. (NASDAQ:DGII - Get Free Report) fell 3.3% on Friday . The company traded as low as $31.01 and last traded at $31.20. 351,169 shares changed hands during mid-day trading, an increase of 77% from the average session volume of 198,346 shares. The stock had previously closed at $32.25.

Analyst Upgrades and Downgrades

DGII has been the subject of a number of analyst reports. Craig Hallum reaffirmed a "hold" rating and set a $32.00 price objective (up from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Piper Sandler boosted their target price on Digi International from $26.00 to $32.00 and gave the stock a "neutral" rating 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. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Digi International currently has an average rating of "Moderate Buy" and a consensus price target of $36.75.

Digi International Trading Down 4.7 %

The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.13 billion, a P/E ratio of 50.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. The company has a fifty day simple moving average of $31.66 and a two-hundred day simple moving average of $27.88.

Digi International (NASDAQ:DGII - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. The business had revenue of $105.05 million during the quarter, compared to analyst estimates of $104.16 million. Digi International had a return on equity of 11.24% and a net margin of 5.31%. Digi International's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. On average, sell-side analysts expect that Digi International Inc. will post 1.65 earnings per share for the current year.

Insider Activity at Digi International

In related news, Director Satbir Khanuja sold 7,000 shares of the stock in a transaction on Thursday, November 21st. The shares were 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 owns 83,255 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, VP Terrence G. Schneider sold 2,808 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were 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 owns 39,002 shares of the company's stock, valued at approximately $1,289,406.12. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,329 shares of company stock valued at $332,361. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Digi International

Several institutional investors have recently added to or reduced their stakes in DGII. Geneva Capital Management LLC raised its stake in 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 worth $45,560,000 after purchasing an additional 79,313 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Digi International in the second quarter valued at approximately $498,000. Geode Capital Management LLC grew its position 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 worth $24,074,000 after buying an additional 11,239 shares in the last quarter. SG Americas Securities LLC grew its position in Digi International by 108.0% during 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 in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in 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 during the period. 95.90% of the stock is currently owned by institutional investors.

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.