Digi International (NASDAQ:DGII) Stock Price Down 3.3% – Time to Sell?

Digi International Inc. (NASDAQ:DGII) shares dropped 3.3% during mid-day trading on Friday . The company traded as low as $31.01 and last traded at $31.20. Approximately 351,169 shares changed hands during mid-day trading, an increase of 77% from the average daily volume of 198,346 shares. The stock had previously closed at $32.25.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DGII shares. StockNews.com upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Piper Sandler lifted their price target on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Craig Hallum reissued a “hold” rating and set a $32.00 price target (up previously from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Stock Down 4.7 %

The firm’s fifty day simple moving average is $31.66 and its 200-day simple moving average is $27.91. The company has a market cap of $1.13 billion, a PE ratio of 50.39, a P/E/G ratio of 1.21 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.21.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The firm had revenue of $105.05 million for the quarter, compared to analysts’ expectations of $104.16 million. During the same quarter in the prior year, the firm earned $0.44 EPS. Digi International’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that Digi International Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Digi International

In related news, Director Satbir Khanuja sold 7,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $31.76, for a total value of $222,320.00. Following the completion of the transaction, the director now directly owns 83,255 shares in the company, valued at approximately $2,644,178.80. This represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $33.06, for a total value of $92,832.48. Following the transaction, the vice president now owns 39,002 shares in the company, valued at $1,289,406.12. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,329 shares of company stock worth $332,361. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in Digi International by 92.5% in the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock valued at $187,000 after purchasing an additional 3,911 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in shares of Digi International during the 2nd quarter valued at $498,000. Captrust Financial Advisors increased its holdings in shares of Digi International by 13.5% during the 3rd quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after buying an additional 2,418 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Digi International by 51.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after buying an additional 8,235 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Digi International by 6.7% in the second quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock valued at $2,627,000 after acquiring an additional 7,208 shares during the last quarter. Institutional investors and hedge funds 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.