Digi International (NASDAQ:DGII) Downgraded by StockNews.com to “Hold”

Digi International (NASDAQ:DGII) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also issued reports on DGII. Roth Mkm decreased their target price on Digi International from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Piper Sandler lowered Digi International from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $35.00 to $29.00 in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

Digi International Price Performance

Shares of NASDAQ:DGII opened at $22.68 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $27.99 and its two-hundred day simple moving average is $27.34. Digi International has a 1-year low of $21.25 and a 1-year high of $42.95. The stock has a market cap of $825.10 million, a PE ratio of 59.69, a price-to-earnings-growth ratio of 0.81 and a beta of 1.12.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. Digi International had a return on equity of 11.61% and a net margin of 3.20%. The business had revenue of $107.70 million for the quarter, compared to analysts’ expectations of $106.97 million. As a group, analysts forecast that Digi International will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Summit Creek Advisors LLC grew its holdings in Digi International by 16.5% during the 4th quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock valued at $7,733,000 after buying an additional 42,179 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Digi International by 55.0% in the fourth quarter. SG Americas Securities LLC now owns 23,167 shares of the technology company’s stock worth $602,000 after purchasing an additional 8,216 shares during the last quarter. Geneva Capital Management LLC increased its position in shares of Digi International by 50.0% in the fourth quarter. Geneva Capital Management LLC now owns 1,396,042 shares of the technology company’s stock worth $36,297,000 after purchasing an additional 465,382 shares during the last quarter. Rhumbline Advisers increased its position in shares of Digi International by 0.5% in the third quarter. Rhumbline Advisers now owns 102,783 shares of the technology company’s stock worth $2,775,000 after purchasing an additional 502 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Digi International by 76.8% in the third quarter. Quantbot Technologies LP now owns 1,752 shares of the technology company’s stock worth $47,000 after purchasing an additional 761 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 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.