Digi International (NASDAQ:DGII) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Digi International Inc. (NASDAQ:DGII - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DGII. Wall Street Zen upgraded shares of Digi International from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Piper Sandler lifted their price objective on shares of Digi International from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th.

Digi International Stock Down 3.7%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.57. The company has a market cap of $1.25 billion, a PE ratio of 29.83, a PEG ratio of 1.17 and a beta of 0.89. The firm has a fifty day simple moving average of $33.43 and a 200 day simple moving average of $30.92.

Digi International (NASDAQ:DGII - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.02. The business had revenue of $104.50 million during the quarter, compared to analysts' expectations of $104.08 million. Digi International had a return on equity of 11.00% and a net margin of 10.07%. The company's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. Equities research analysts predict that Digi International Inc. will post 1.68 EPS for the current year.

Institutional Investors Weigh In On Digi International

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC grew its holdings in Digi International by 868.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company's stock valued at $35,000 after buying an additional 1,025 shares during the last quarter. Captrust Financial Advisors grew its holdings in Digi International by 6.3% in the 4th quarter. Captrust Financial Advisors now owns 21,629 shares of the technology company's stock valued at $654,000 after buying an additional 1,291 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Digi International by 7.2% in the 4th quarter. MetLife Investment Management LLC now owns 21,655 shares of the technology company's stock valued at $655,000 after buying an additional 1,451 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Digi International in the 4th quarter valued at approximately $45,000. Finally, Farther Finance Advisors LLC grew its holdings in Digi International by 5,263.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company's stock valued at $71,000 after buying an additional 2,000 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other 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.