Digi International (NASDAQ:DGII) Shares Cross Above 200-Day Moving Average - Here's What Happened

Digi International Inc. (NASDAQ:DGII - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $30.97 and traded as high as $34.36. Digi International shares last traded at $33.14, with a volume of 139,235 shares changing hands.

Analysts Set New Price Targets

DGII has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target 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. 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.

Digi International Price Performance

The company has a market capitalization of $1.23 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.15 and a beta of 0.89. The business's 50-day simple moving average is $33.75 and its 200 day simple moving average is $31.02. The company has a current ratio of 1.57, a quick ratio of 1.12 and a debt-to-equity ratio of 0.12.

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

Institutional Trading of Digi International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Digi International by 67.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company's stock worth $59,000 after purchasing an additional 685 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Digi International by 868.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company's stock valued at $35,000 after acquiring an additional 1,025 shares during the period. Captrust Financial Advisors raised its holdings in shares of Digi International by 6.3% during the fourth quarter. Captrust Financial Advisors now owns 21,629 shares of the technology company's stock valued at $654,000 after acquiring an additional 1,291 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Digi International by 7.2% during 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 during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Digi International during the fourth quarter valued at approximately $45,000. 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.