Digi International (NASDAQ:DGII) Trading Up 18.4% – Here’s What Happened

Digi International Inc. (NASDAQ:DGII) shares were up 18.4% during trading on Thursday . The company traded as high as $35.52 and last traded at $36.01. Approximately 59,181 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 194,897 shares. The stock had previously closed at $30.41.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DGII. Stephens reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Digi International in a report on Thursday. StockNews.com raised Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Craig Hallum reaffirmed a “hold” rating and set a $32.00 price objective (up previously from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Finally, Piper Sandler increased their target price on Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Digi International currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Trading Up 17.7 %

The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 58.53, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $31.23 and its 200 day moving average is $29.60.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a net margin of 5.31% and a return on equity of 11.24%. Equities analysts forecast that Digi International Inc. will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Satbir Khanuja sold 7,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $31.76, for a total transaction of $222,320.00. Following the transaction, the director now directly owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. The trade was a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the transaction, the vice president now directly owns 39,002 shares in the company, valued at $1,289,406.12. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,329 shares of company stock valued at $332,361. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Digi International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors grew its holdings in shares of Digi International by 13.5% in the 3rd quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after purchasing an additional 2,418 shares during the last quarter. Pacer Advisors Inc. grew its stake in Digi International by 110.2% during the fourth quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock worth $300,000 after buying an additional 5,207 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Digi International by 51.8% during the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after buying an additional 8,235 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Digi International by 108.0% in the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after acquiring an additional 8,788 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Digi International by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after acquiring an additional 11,239 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

About Digi International

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.