Digi International (NASDAQ:DGII) Share Price Passes 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 Monday . The stock has a 200-day moving average of $38.11 and traded as high as $43.24. Digi International shares last traded at $42.86, with a volume of 414,988 shares traded.

Analysts Set New Price Targets

DGII has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Digi International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 10th. Roth Mkm raised their target price on shares of Digi International from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Craig Hallum upgraded shares of Digi International from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $45.00 in a research report on Thursday, November 13th. B. Riley increased their price target on Digi International from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Stephens raised their price objective on Digi International from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, January 2nd. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $48.80.

Digi International Price Performance

The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 39.69 and a beta of 0.86. The company’s 50-day moving average is $43.23 and its 200-day moving average is $38.11.

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

Insider Transactions at Digi International

In related news, VP Terrence G. Schneider sold 16,667 shares of Digi International stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $40.56, for a total transaction of $676,013.52. Following the sale, the vice president directly owned 24,756 shares of the company’s stock, valued at approximately $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 this hyperlink. Also, VP David H. Sampsell sold 22,222 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $38.38, for a total transaction of $852,880.36. Following the transaction, the vice president owned 31,749 shares of the company’s stock, valued at approximately $1,218,526.62. This represents a 41.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 56,572 shares of company stock worth $2,256,580. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Verity Asset Management Inc. bought a new position in shares of Digi International in the 3rd quarter valued at $464,000. Millennium Management LLC acquired a new position in Digi International in the 3rd quarter worth about $292,000. California State Teachers Retirement System raised its position in Digi International by 9.9% in the third quarter. California State Teachers Retirement System now owns 37,001 shares of the technology company’s stock valued at $1,349,000 after purchasing an additional 3,343 shares during the last quarter. Brooklyn Investment Group raised its position in Digi International by 3,880.3% in the third quarter. Brooklyn Investment Group now owns 5,652 shares of the technology company’s stock valued at $206,000 after purchasing an additional 5,510 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Digi International by 48.7% during the third quarter. BNP Paribas Financial Markets now owns 14,018 shares of the technology company’s stock valued at $511,000 after purchasing an additional 4,594 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.