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

Digi International Inc. (NASDAQ:DGII) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $36.79 and traded as high as $44.56. Digi International shares last traded at $44.49, with a volume of 221,118 shares.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Digi International in a research report on Wednesday. Roth Capital upped their price objective on shares of Digi International from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Piper Sandler raised their target price on Digi International from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Craig Hallum raised Digi International from a “hold” rating to a “buy” rating and upped their price target for the company from $30.00 to $45.00 in a research report on Thursday, November 13th. Finally, B. Riley increased their price objective on Digi International from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.80.

Digi International Price Performance

The stock has a market cap of $1.67 billion, a PE ratio of 41.19 and a beta of 0.87. The business has a fifty day simple moving average of $40.81 and a two-hundred day simple moving average of $36.79. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.25.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, November 12th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $114.34 million for the quarter, compared to analyst estimates of $110.75 million. Digi International had a return on equity of 10.88% and a net margin of 9.48%.The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. Research analysts forecast that Digi International Inc. will post 1.68 earnings per share for the current year.

Insider Transactions at Digi International

In other news, VP Terrence G. Schneider sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $40.56, for a total value of $676,013.52. Following the sale, the vice president directly owned 24,756 shares of the company’s stock, valued at $1,004,103.36. The trade was a 40.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David H. Sampsell sold 22,222 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $38.38, for a total value of $852,880.36. Following the transaction, the vice president directly owned 31,749 shares of the company’s stock, valued at approximately $1,218,526.62. This trade represents a 41.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 56,572 shares of company stock valued at $2,256,580. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Digi International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. grew its position in Digi International by 2,215.1% during the 3rd quarter. Bessemer Group Inc. now owns 1,227 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,174 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Digi International by 25.1% in the second quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock worth $58,000 after buying an additional 339 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Digi International by 67.8% during the second quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company’s stock valued at $59,000 after buying an additional 685 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Digi International by 5,263.2% during the second quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company’s stock valued at $71,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Digi International by 1,530.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the technology company’s stock worth $123,000 after acquiring an additional 3,169 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

Digi International Company Profile

Digi International Inc is a provider of Internet of Things (IoT) connectivity products and services designed to link devices to networks and applications securely. The company develops a broad range of networking hardware, including cellular and Ethernet routers, gateways, embedded modules and adaptors, as well as accessories and antennas. Digi’s solutions enable businesses to deploy remote monitoring, control and automation systems across diverse industries such as transportation, utilities, healthcare, retail and industrial manufacturing.

In addition to its physical devices, Digi offers cloud-based management software and professional services that simplify device configuration, monitoring and over-the-air updates.