Digi International (NASDAQ:DGII) Trading 4.3% Higher After Analyst Upgrade

Digi International Inc. (NASDAQ:DGII - Get Free Report) shares traded up 4.3% on Thursday after Piper Sandler raised their price target on the stock from $26.00 to $32.00. Piper Sandler currently has a neutral rating on the stock. Digi International traded as high as $34.09 and last traded at $33.36. 74,796 shares changed hands during trading, a decline of 61% from the average session volume of 191,841 shares. The stock had previously closed at $31.97.

Separately, Craig Hallum restated a "hold" rating and set a $32.00 price objective (up previously from $28.00) on shares of Digi International in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $36.20.

Hedge Funds Weigh In On Digi International

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in Digi International by 92.5% during the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company's stock valued at $187,000 after acquiring an additional 3,911 shares in the last quarter. Verity Asset Management Inc. purchased a new position in Digi International during the first quarter valued at approximately $269,000. Captrust Financial Advisors grew its stake in Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company's stock valued at $560,000 after acquiring an additional 2,418 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Digi International during the second quarter valued at approximately $498,000. Finally, BNP Paribas Financial Markets grew its stake 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 valued at $664,000 after acquiring an additional 8,235 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

Digi International Trading Down 0.9 %

The firm's 50 day moving average is $28.98 and its 200 day moving average is $26.75. The company has a market cap of $1.15 billion, a PE ratio of 67.11, a PEG ratio of 1.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.00 and a quick ratio of 1.31.

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.