Digi International (NASDAQ:DGII) Stock Rating Lowered by StockNews.com

Digi International (NASDAQ:DGII) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

DGII has been the subject of a number of other reports. Piper Sandler dropped their target price on shares of Digi International from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday. Stephens reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Digi International in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Digi International Price Performance

Shares of NASDAQ DGII traded down $1.03 during mid-day trading on Tuesday, hitting $23.13. 262,233 shares of the stock were exchanged, compared to its average volume of 211,998. Digi International has a twelve month low of $20.17 and a twelve month high of $37.07. The stock’s fifty day simple moving average is $30.29 and its two-hundred day simple moving average is $30.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market cap of $853.47 million, a P/E ratio of 24.09, a PEG ratio of 1.23 and a beta of 0.88.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. As a group, analysts forecast that Digi International will post 1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Digi International

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Digi International by 2,467.2% during the 1st quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company’s stock worth $783,000 after acquiring an additional 27,040 shares during the period. Lazard Asset Management LLC bought a new stake in Digi International in the fourth quarter valued at about $45,000. Captrust Financial Advisors lifted its stake in Digi International by 6.3% in the fourth quarter. Captrust Financial Advisors now owns 21,629 shares of the technology company’s stock valued at $654,000 after buying an additional 1,291 shares during the period. Bearing Point Capital LLC bought a new position in Digi International during the fourth quarter worth about $212,000. Finally, BNP Paribas Financial Markets grew its position in shares of Digi International by 16.3% during the 4th quarter. BNP Paribas Financial Markets now owns 28,054 shares of the technology company’s stock worth $848,000 after buying an additional 3,925 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.