Digi International (NASDAQ:DGII) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Digi International Inc. (NASDAQ:DGII) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $30.54 and traded as high as $33.36. Digi International shares last traded at $33.25, with a volume of 158,717 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their target price on shares of Digi International from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Digi International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 20th. Finally, Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of Digi International in a research note on Thursday, February 6th.

Digi International Price Performance

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 34.64, a P/E/G ratio of 1.23 and a beta of 0.82. The company’s 50 day moving average is $28.98 and its 200-day moving average is $30.54.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Digi International had a return on equity of 11.16% and a net margin of 8.45%. The company had revenue of $104.50 million during the quarter, compared to analysts’ expectations of $104.08 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. Equities research analysts anticipate that Digi International Inc. will post 1.68 earnings per share for the current year.

Hedge Funds Weigh In On Digi International

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its position in shares of Digi International by 9,344.7% during the first quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock valued at $3,023,000 after purchasing an additional 107,464 shares in the last quarter. Herald Investment Management Ltd bought a new stake in Digi International during the first quarter worth $2,226,000. Pacer Advisors Inc. lifted its holdings in Digi International by 2,297.0% during the first quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company’s stock worth $6,624,000 after acquiring an additional 228,089 shares during the period. GAMMA Investing LLC boosted its position in Digi International by 2,467.2% in the first quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company’s stock worth $783,000 after purchasing an additional 27,040 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Digi International in the 4th quarter valued at $45,000. Institutional investors and hedge funds 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.