Digi International (NASDAQ:DGII) Trading Down 6.1%

Digi International Inc. (NASDAQ:DGII) was down 6.1% during mid-day trading on Thursday . The company traded as low as $27.73 and last traded at $28.86. Approximately 30,426 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 174,112 shares. The stock had previously closed at $30.72.

Wall Street Analysts Forecast Growth

Several research firms have commented on DGII. Stephens lifted their price target on Digi International from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. Roth Mkm cut their target price on shares of Digi International from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday. Finally, Piper Sandler reiterated an “overweight” rating and set a $35.00 price target (down previously from $40.00) on shares of Digi International in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Digi International Price Performance

The company has a market cap of $932.97 million, a price-to-earnings ratio of 67.71, a PEG ratio of 0.83 and a beta of 1.22. The company has a 50-day simple moving average of $30.17 and a 200-day simple moving average of $27.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.39 and a current ratio of 2.05.

Digi International (NASDAQ:DGII) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Digi International had a net margin of 3.20% and a return on equity of 11.61%. The firm had revenue of $106.09 million for the quarter, compared to the consensus estimate of $105.75 million. As a group, research analysts predict that Digi International Inc. will post 1.8 earnings per share for the current year.

Institutional Investors Weigh In On Digi International

Several institutional investors have recently modified their holdings of DGII. Geneva Capital Management LLC raised its holdings in Digi International by 50.0% during the fourth quarter. Geneva Capital Management LLC now owns 1,396,042 shares of the technology company’s stock worth $36,297,000 after purchasing an additional 465,382 shares during the last quarter. Summit Creek Advisors LLC acquired a new position in shares of Digi International during the 3rd quarter worth $6,892,000. New York State Common Retirement Fund boosted its position in shares of Digi International by 44.4% in the 3rd quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock worth $18,270,000 after buying an additional 208,204 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in Digi International by 36.1% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company’s stock valued at $14,229,000 after acquiring an additional 139,720 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in Digi International during the 4th quarter valued at about $525,000. Hedge funds and other 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.