Digi International (NASDAQ:DGII) Stock Crosses Above 200 Day Moving Average - Here's Why

Digi International Inc. (NASDAQ:DGII - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $30.66 and traded as high as $35.17. Digi International shares last traded at $34.45, with a volume of 183,387 shares changing hands.

Wall Street Analysts Forecast Growth

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

Digi International Stock Performance

The stock's fifty day moving average price is $30.07 and its two-hundred day moving average price is $30.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market cap of $1.23 billion, a P/E ratio of 34.43, a P/E/G ratio of 1.23 and a beta of 0.89.

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 for the quarter, topping analysts' consensus estimates of $0.49 by $0.02. Digi International had a net margin of 8.45% and a return on equity of 11.16%. The company had revenue of $104.50 million during the quarter, compared to the consensus estimate of $104.08 million. During the same quarter in the prior year, the firm posted $0.49 EPS. The firm's quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities analysts predict that Digi International Inc. will post 1.68 earnings per share for the current year.

Hedge Funds Weigh In On Digi International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its stake in Digi International by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company's stock valued at $10,880,000 after purchasing an additional 29,026 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Digi International in the 4th quarter valued at approximately $1,400,000. KLP Kapitalforvaltning AS bought a new position in Digi International in the 4th quarter valued at approximately $196,000. Lazard Asset Management LLC bought a new position in Digi International in the 4th quarter valued at approximately $45,000. Finally, BNP Paribas Financial Markets lifted its stake in Digi International by 16.3% in the 4th quarter. BNP Paribas Financial Markets now owns 28,054 shares of the technology company's stock valued at $848,000 after purchasing an additional 3,925 shares during the last quarter. Institutional investors own 95.90% of the company's stock.

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.