Digi International (NASDAQ:DGII) Reaches New 52-Week Low - Here's Why

Shares of Digi International Inc. (NASDAQ:DGII - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $26.69 and last traded at $27.20, with a volume of 180325 shares traded. The stock had previously closed at $27.78.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DGII shares. StockNews.com raised Digi International from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th. Stephens reissued an "overweight" rating and issued a $45.00 price target on shares of Digi International in a research note on Thursday, February 6th. Finally, Piper Sandler lowered their price target on Digi International from $32.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Two research 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, the company currently has an average rating of "Moderate Buy" and an average target price of $35.25.

Digi International Stock Up 2.1 %

The firm has a 50-day moving average of $27.74 and a two-hundred day moving average of $30.32. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.05 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88.

Digi International (NASDAQ:DGII - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. On average, equities research analysts forecast that Digi International Inc. will post 1.68 EPS for the current year.

Hedge Funds Weigh In On Digi International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. raised its position in Digi International by 110.2% in the fourth quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company's stock valued at $300,000 after purchasing an additional 5,207 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Digi International during the 4th quarter valued at about $196,000. New Age Alpha Advisors LLC purchased a new stake in shares of Digi International during the 4th quarter valued at about $1,400,000. Sterling Capital Management LLC lifted its position in Digi International by 868.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company's stock worth $35,000 after acquiring an additional 1,025 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Digi International by 7.2% in the fourth quarter. MetLife Investment Management LLC now owns 21,655 shares of the technology company's stock valued at $655,000 after acquiring an additional 1,451 shares in the last quarter. Institutional investors and hedge funds 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.