Digi International (NASDAQ:DGII) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Digi International Inc. (NASDAQ:DGII - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $30.84 and traded as high as $35.80. Digi International shares last traded at $35.33, with a volume of 283,755 shares trading hands.

Analyst Upgrades and Downgrades

DGII has been the subject of a number of research reports. Piper Sandler lifted their price objective on Digi International from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen raised Digi International from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 20th.

Digi International Trading Up 0.1%

The company has a fifty day simple moving average of $33.18 and a two-hundred day simple moving average of $30.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.57 and a quick ratio of 1.12. The company has a market capitalization of $1.31 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89.

Digi International (NASDAQ:DGII - Get Free Report) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Digi International had a return on equity of 11.00% and a net margin of 10.07%. The company had revenue of $104.50 million for the quarter, compared to analyst estimates of $104.08 million. During the same period last year, the company earned $0.49 earnings per share. The business's revenue was down 3.0% compared to the same quarter last year. On average, analysts forecast that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Digi International

Institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC increased its stake in shares of Digi International by 868.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company's stock worth $35,000 after purchasing an additional 1,025 shares during the period. Lazard Asset Management LLC bought a new position in shares of Digi International in the fourth quarter worth about $45,000. KLP Kapitalforvaltning AS bought a new position in shares of Digi International in the fourth quarter worth about $196,000. Bearing Point Capital LLC bought a new position in shares of Digi International in the fourth quarter worth about $212,000. Finally, Captrust Financial Advisors increased its stake in shares of Digi International by 6.3% in the fourth quarter. Captrust Financial Advisors now owns 21,629 shares of the technology company's stock worth $654,000 after purchasing an additional 1,291 shares during the period. 95.90% of the stock is currently owned by 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.