Digi International (NASDAQ:DGII) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Digi International Inc. (NASDAQ:DGII - Get Free Report) crossed 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.

Wall Street Analyst Weigh In

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

Digi International Price Performance

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.23 billion, a PE ratio of 34.43, a P/E/G ratio of 1.23 and a beta of 0.89. The company has a fifty day moving average price of $30.26 and a two-hundred day moving average price of $30.65.

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. The business had revenue of $104.50 million during the quarter, compared to the consensus estimate of $104.08 million. Digi International had a return on equity of 11.16% and a net margin of 8.45%. The business's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. Sell-side analysts forecast that Digi International Inc. will post 1.68 earnings per share for the current year.

Institutional Trading of Digi International

Several institutional investors and hedge funds have recently added to or reduced their stakes in DGII. Ameriprise Financial Inc. increased its position in Digi International by 8.8% during the 4th quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company's stock worth $10,880,000 after purchasing an additional 29,026 shares during the period. Pacer Advisors Inc. increased its position in 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 purchasing an additional 228,089 shares during the period. Jones Financial Companies Lllp increased its position 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 during the period. Herald Investment Management Ltd acquired a new position in Digi International during the 1st quarter worth approximately $2,226,000. Finally, New Age Alpha Advisors LLC acquired a new position in Digi International during the 4th quarter worth approximately $1,400,000. 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.