Digi International (NASDAQ:DGII) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Digi International's stock price surpassed its 200-day moving average of $32.28, reaching a peak of $37.47 before last trading at $36.42.
• Analyst ratings for Digi International show a consensus average of "Moderate Buy" with a price target of $38.75, indicating positive sentiment from multiple research firms.
• The company's quarterly earnings report exceeded expectations with an EPS of $0.53, up from $0.50 in the previous year, alongside a revenue increase of 2.2% year-over-year.

Digi International Inc. (NASDAQ:DGII - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.28 and traded as high as $37.47. Digi International shares last traded at $36.42, with a volume of 172,832 shares trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on DGII. B. Riley lifted their price target on shares of Digi International from $35.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Roth Capital reaffirmed a "buy" rating on shares of Digi International in a research note on Thursday, August 7th. Piper Sandler increased their price target on shares of Digi International from $30.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Digi International in a report on Saturday, September 27th. Finally, Stephens reiterated an "overweight" rating and set a $50.00 target price on shares of Digi International in a report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Digi International currently has an average rating of "Moderate Buy" and an average price target of $38.75.

Digi International Trading Down 1.3%

The stock's fifty day simple moving average is $34.61 and its two-hundred day simple moving average is $32.28. The firm has a market cap of $1.35 billion, a PE ratio of 31.95, a PEG ratio of 1.19 and a beta of 0.95. The company has a quick ratio of 1.03, a current ratio of 1.43 and a debt-to-equity ratio of 0.06.

Digi International (NASDAQ:DGII - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $107.51 million for the quarter, compared to analysts' expectations of $106.23 million. Digi International had a return on equity of 10.96% and a net margin of 10.14%.The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. On average, sell-side analysts forecast that Digi International Inc. will post 1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Digi International

A number of hedge funds have recently bought and sold shares of DGII. Lazard Asset Management LLC raised its holdings in Digi International by 25.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company's stock worth $58,000 after purchasing an additional 339 shares during the period. GAMMA Investing LLC increased its position in Digi International by 67.8% in the second quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company's stock worth $59,000 after buying an additional 685 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Digi International by 20.0% in the second quarter. KLP Kapitalforvaltning AS now owns 7,800 shares of the technology company's stock worth $272,000 after buying an additional 1,300 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Digi International by 5,263.2% during 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 in the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Digi International by 6.6% during the 2nd quarter. New York State Teachers Retirement System now owns 58,347 shares of the technology company's stock valued at $2,034,000 after acquiring an additional 3,632 shares during the period. Institutional investors own 95.90% of the company's stock.

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.

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