Digi International (NASDAQ:DGII) Shares Pass Above 200-Day Moving Average - Time to Sell?

Digi International Inc. (NASDAQ:DGII - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.40 and traded as high as $31.30. Digi International shares last traded at $30.72, with a volume of 177,584 shares trading hands.

Analysts Set New Price Targets

DGII has been the subject of several recent analyst reports. Piper Sandler lifted their target price on shares of Digi International from $26.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Craig Hallum restated a "hold" rating and issued a $32.00 target price (up from $28.00) on shares of Digi International in a report on Thursday, November 14th. Finally, StockNews.com raised shares of Digi International from a "buy" rating to a "strong-buy" rating in a research note on Thursday, December 19th. Two investment 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $36.75.

Digi International Stock Up 0.9 %

The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.14 billion, a PE ratio of 50.80, a P/E/G ratio of 1.15 and a beta of 1.07. The firm has a 50 day simple moving average of $31.44 and a two-hundred day simple moving average of $29.40.

Digi International (NASDAQ:DGII - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The business had revenue of $105.05 million for the quarter, compared to analyst estimates of $104.16 million. Digi International had a net margin of 5.31% and a return on equity of 11.24%. The company's revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Research analysts expect that Digi International Inc. will post 1.65 EPS 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 that occurred on Thursday, November 21st. The stock was sold at an average price of $31.76, for a total value of $222,320.00. Following 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Terrence G. Schneider sold 2,808 shares of the company's stock in a transaction that occurred 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 sale, 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 10,329 shares of company stock worth $332,361 in the last 90 days. Corporate insiders own 3.30% of the company's stock.

Institutional Investors Weigh In On Digi International

A number of hedge funds have recently added to or reduced their stakes in DGII. Geneva Capital Management LLC grew its holdings in Digi International by 5.0% during the third 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 period. Geode Capital Management LLC grew its position in Digi International by 1.3% in the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company's stock valued at $24,074,000 after purchasing an additional 11,239 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Digi International by 51.8% during 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 in the last quarter. Captrust Financial Advisors grew its stake in shares of Digi International by 13.5% in the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company's stock valued at $560,000 after buying an additional 2,418 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings 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 purchasing an additional 8,788 shares during the period. Institutional investors 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.