Digi International (NASDAQ:DGII) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Digi International Inc. (NASDAQ:DGII) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $64.27 and traded as high as $73.11. Digi International shares last traded at $72.13, with a volume of 736,813 shares traded.

Wall Street Analyst Weigh In

DGII has been the topic of a number of research reports. Zacks Research cut shares of Digi International from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Weiss Ratings lowered Digi International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 10th. Roth Capital set a $90.00 price target on shares of Digi International and gave the company a “buy” rating in a research report on Thursday, August 6th. Piper Sandler upped their price target on shares of Digi International from $63.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Finally, Stephens raised their price objective on shares of Digi International from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Digi International currently has an average rating of “Moderate Buy” and an average price target of $82.40.

Digi International Stock Down 0.7%

The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.74 billion, a PE ratio of 57.25 and a beta of 0.97. The stock has a fifty day simple moving average of $72.30 and a two-hundred day simple moving average of $64.27.

Digi International (NASDAQ:DGII) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $138.67 million for the quarter, compared to the consensus estimate of $132.57 million. Digi International had a net margin of 9.63% and a return on equity of 12.16%. The company’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. Digi International has set its Q4 2026 guidance at 0.750-0.780 EPS. As a group, sell-side analysts expect that Digi International Inc. will post 2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Digi International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DGII. GAMMA Investing LLC boosted its position in shares of Digi International by 17.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,576 shares of the technology company’s stock valued at $193,000 after acquiring an additional 374 shares during the last quarter. USA Financial Formulas lifted its position in Digi International by 109.3% during the first quarter. USA Financial Formulas now owns 946 shares of the technology company’s stock valued at $46,000 after purchasing an additional 494 shares during the last quarter. Glenmede Trust Co. NA lifted its position in Digi International by 11.2% during the first quarter. Glenmede Trust Co. NA now owns 18,712 shares of the technology company’s stock valued at $902,000 after purchasing an additional 1,888 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Digi International in the 2nd quarter worth approximately $154,000. Finally, State of Wyoming purchased a new position in Digi International in the 2nd quarter worth approximately $160,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

About Digi International

Digi International Inc (NASDAQ: DGII) provides business and industrial Internet of Things (IoT) connectivity solutions. Its products and services help organizations connect, monitor and manage devices, equipment and assets across distributed locations and networks.

The company’s offerings include cellular routers and gateways, embedded and system-on-module solutions, industrial networking equipment, console servers and other wireless connectivity products. Digi also provides device-management software, including its Digi Remote Manager platform, which supports the deployment, configuration, monitoring and maintenance of connected devices.

Digi serves customers in industries such as transportation, energy, industrial automation, healthcare, retail and government.