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

Digi International Inc. (NASDAQ:DGII)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $33.69 and traded as high as $38.95. Digi International shares last traded at $38.14, with a volume of 149,532 shares.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Roth Capital reissued a “buy” rating on shares of Digi International in a report on Thursday, August 7th. Piper Sandler lifted their price objective on shares of Digi International from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. B. Riley lifted their price objective on shares of Digi International from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Digi International in a research report on Wednesday, October 8th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 price objective on shares of Digi International in a research report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.75.

Digi International Price Performance

The firm’s 50-day moving average is $36.32 and its two-hundred day moving average is $33.69. The company has a market cap of $1.42 billion, a P/E ratio of 33.46, a PEG ratio of 1.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.43 and a quick ratio of 1.03.

Digi International (NASDAQ:DGII) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. Digi International had a net margin of 10.14% and a return on equity of 10.96%. The company had revenue of $107.51 million for the quarter, compared to analysts’ expectations of $106.23 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. Digi International’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts anticipate that Digi International Inc. will post 1.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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. Campbell & CO Investment Adviser LLC boosted its stake in Digi International by 30.5% during the third quarter. Campbell & CO Investment Adviser LLC now owns 28,762 shares of the technology company’s stock worth $1,049,000 after buying an additional 6,726 shares during the period. SG Americas Securities LLC boosted its stake in Digi International by 445.3% during the third quarter. SG Americas Securities LLC now owns 30,670 shares of the technology company’s stock worth $1,118,000 after buying an additional 25,046 shares during the period. Lazard Asset Management LLC boosted its stake in Digi International by 25.1% during the second quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock worth $58,000 after buying an additional 339 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Digi International by 7.7% during the second quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock worth $22,736,000 after buying an additional 46,659 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.