Digi International (NASDAQ:DGII) Stock Passes Above 200-Day Moving Average - What's Next?

Digi International Inc. (NASDAQ:DGII - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.67 and traded as high as $30.57. Digi International shares last traded at $30.51, with a volume of 92,260 shares trading hands.

Wall Street Analysts Forecast Growth

DGII has been the topic of a number of research reports. Craig Hallum lowered their target price on shares of Digi International from $32.00 to $28.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Piper Sandler lowered their price objective on shares of Digi International from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.20.

Digi International Stock Performance

The company has a quick ratio of 1.31, a current ratio of 2.00 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $28.51 and a 200-day moving average price of $26.66. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 80.50, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07.

Digi International (NASDAQ:DGII - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. The company had revenue of $105.20 million during the quarter, compared to the consensus estimate of $105.60 million. Digi International had a net margin of 3.94% and a return on equity of 11.32%. Digi International's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, analysts expect that Digi International Inc. will post 1.67 earnings per share for the current fiscal year.

Institutional Trading of Digi International

Several hedge funds have recently modified their holdings of the business. Central Pacific Bank Trust Division acquired a new stake in shares of Digi International in the first quarter valued at about $139,000. SG Americas Securities LLC grew its holdings in shares of Digi International by 92.5% in the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company's stock worth $187,000 after acquiring an additional 3,911 shares during the period. Verity Asset Management Inc. purchased a new position in Digi International in the 1st quarter valued at approximately $269,000. Cornercap Investment Counsel Inc. acquired a new position in Digi International during the second quarter worth $498,000. Finally, BNP Paribas Financial Markets boosted its position in Digi International by 52.6% during the first quarter. BNP Paribas Financial Markets now owns 29,940 shares of the technology company's stock worth $956,000 after purchasing an additional 10,317 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.