Digi International (NASDAQ:DGII) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Digi International Inc. (NASDAQ:DGII) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $30.66 and traded as high as $35.17. Digi International shares last traded at $34.45, with a volume of 183,387 shares.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Piper Sandler raised their price objective on shares of Digi International from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th.

Digi International Price Performance

The business’s 50-day simple moving average is $29.87 and its two-hundred day simple moving average is $30.66. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.28 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 1.23 and a beta of 0.89.

Digi International (NASDAQ:DGII) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $104.50 million during the quarter, compared to analyst estimates of $104.08 million. Digi International had a net margin of 8.45% and a return on equity of 11.16%. Digi International’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. Sell-side analysts expect that Digi International Inc. will post 1.68 EPS for the current year.

Institutional Investors Weigh In On Digi International

A number of institutional investors and hedge funds have recently bought and sold shares of DGII. KLP Kapitalforvaltning AS purchased a new position in shares of Digi International during the fourth quarter worth approximately $196,000. New Age Alpha Advisors LLC bought a new stake in Digi International in the fourth quarter valued at $1,400,000. Sterling Capital Management LLC boosted its holdings in Digi International by 868.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,025 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Digi International by 7.2% in the fourth quarter. MetLife Investment Management LLC now owns 21,655 shares of the technology company’s stock valued at $655,000 after acquiring an additional 1,451 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Digi International by 8.8% in the fourth quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company’s stock valued at $10,880,000 after acquiring an additional 29,026 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other 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.