Digi International (NASDAQ:DGII) Share Price Passes Above 200 Day Moving Average – What’s Next?

Digi International Inc. (NASDAQ:DGII)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $36.35 and traded as high as $44.13. Digi International shares last traded at $43.57, with a volume of 339,797 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler upped their target price on shares of Digi International from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Digi International in a report on Thursday. Roth Capital 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 raised shares of Digi International from a “hold” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $45.00 in a research report on Thursday, November 13th. Finally, B. Riley boosted their target price on shares of Digi International from $45.00 to $48.00 and gave the company a “buy” rating in a research note 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

Digi International Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.85 and a current ratio of 1.21. The stock has a market cap of $1.65 billion, a P/E ratio of 40.61 and a beta of 0.87. The business’s 50-day moving average price is $40.12 and its 200-day moving average price is $36.43.

Digi International (NASDAQ:DGII) last released its 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 the consensus estimate of $110.75 million. Digi International had a return on equity of 10.88% and a net margin of 9.48%.Digi International’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, sell-side analysts expect that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Terrence G. Schneider sold 16,667 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $40.56, for a total value of $676,013.52. Following the completion of the sale, the vice president directly owned 24,756 shares of the company’s stock, valued at approximately $1,004,103.36. This represents a 40.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David H. Sampsell sold 22,222 shares of the firm’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 sale, the vice president owned 31,749 shares in the company, valued at approximately $1,218,526.62. The trade was a 41.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 56,572 shares of company stock valued at $2,256,580. 3.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Lazard Asset Management LLC raised its holdings in Digi International by 25.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock valued at $58,000 after buying an additional 339 shares during the period. Amalgamated Bank boosted its stake in Digi International by 3.6% during the third quarter. Amalgamated Bank now owns 10,894 shares of the technology company’s stock worth $397,000 after buying an additional 380 shares during the period. GAMMA Investing LLC increased its position in 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 acquiring an additional 685 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Digi International by 2,215.1% in the third quarter. Bessemer Group Inc. now owns 1,227 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,174 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Digi International by 20.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,800 shares of the technology company’s stock worth $272,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.