Digi International (NASDAQ:DGII) Shares Gap Down – Time to Sell?

Digi International Inc. (NASDAQ:DGII)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $30.70, but opened at $29.17. Digi International shares last traded at $29.17, with a volume of 200 shares trading hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler cut their price target on Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Craig Hallum reduced their price target on shares of Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Digi International has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Digi International Trading Down 0.0 %

The company has a current ratio of 2.00, a quick ratio of 1.31 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $28.28 and a 200-day moving average price of $26.72. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 80.79, a PEG ratio of 0.98 and a beta of 1.07.

Digi International (NASDAQ:DGII) last released its earnings results on Wednesday, August 7th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Digi International had a return on equity of 11.32% and a net margin of 3.94%. The firm had revenue of $105.20 million for the quarter, compared to analyst estimates of $105.60 million. During the same period in the previous year, the company earned $0.44 earnings per share. Digi International’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Digi International Inc. will post 1.67 EPS for the current year.

Institutional Trading of Digi International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Digi International by 687.7% in the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock valued at $31,000 after buying an additional 839 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Digi International during the first quarter worth $78,000. Central Pacific Bank Trust Division purchased a new stake in shares of Digi International during the first quarter valued at $139,000. SG Americas Securities LLC lifted its stake in Digi International by 92.5% during the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock valued at $187,000 after buying an additional 3,911 shares in the last quarter. Finally, Verity Asset Management Inc. acquired a new position in shares of Digi International in the first quarter worth about $269,000. 95.90% of the stock is owned by institutional investors and hedge funds.

About Digi International

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.