Digi International (NASDAQ:DGII) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Digi International Inc. (NASDAQ:DGII - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $30.54 and traded as high as $33.36. Digi International shares last traded at $33.25, with a volume of 158,717 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stephens reaffirmed an "overweight" rating and set a $45.00 target price on shares of Digi International in a research report on Thursday, February 6th. Piper Sandler boosted their target price on shares of Digi International from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Digi International from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 20th.

Digi International Trading Down 0.4%

The company's 50-day moving average is $29.08 and its 200-day moving average is $30.56. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 1.23 and a beta of 0.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.61.

Digi International (NASDAQ:DGII - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. Digi International had a net margin of 8.45% and a return on equity of 11.16%. The business had revenue of $104.50 million for the quarter, compared to the consensus estimate of $104.08 million. During the same quarter in the prior year, the company earned $0.49 EPS. The firm's quarterly revenue was down 3.0% on a year-over-year basis. On average, research analysts predict that Digi International Inc. will post 1.68 earnings per share for the current year.

Institutional Trading of Digi International

A number of large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its stake in Digi International by 9,344.7% during the 1st quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company's stock worth $3,023,000 after purchasing an additional 107,464 shares in the last quarter. Herald Investment Management Ltd bought a new position in shares of Digi International during the 1st quarter worth approximately $2,226,000. Pacer Advisors Inc. grew its stake in shares of Digi International by 2,297.0% during the 1st quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company's stock worth $6,624,000 after acquiring an additional 228,089 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Digi International by 2,467.2% during the 1st quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company's stock worth $783,000 after acquiring an additional 27,040 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Digi International during the 4th quarter worth approximately $45,000. 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.