Digi International (NASDAQ:DGII) Share Price Breaks Below 200 Day Moving Average – Here’s Why

Digi International Inc. (NASDAQ:DGII)’s stock price crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $63.43 and traded as low as $61.34. Digi International shares last traded at $62.30, with a volume of 1,118,035 shares traded.

Analysts Set New Price Targets

DGII has been the topic of a number of analyst reports. B. Riley Financial upped their target price on shares of Digi International from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Roth Capital set a $90.00 price objective on Digi International and gave the company a “buy” rating in a report on Thursday, August 6th. Stephens upped their price objective on Digi International from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Zacks Research cut Digi International from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Piper Sandler increased their target price on Digi International from $63.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Digi International presently has an average rating of “Moderate Buy” and a consensus target price of $82.40.

Digi International Trading Up 1.4%

The company’s fifty day moving average price is $72.98 and its two-hundred day moving average price is $63.54. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.40 billion, a P/E ratio of 50.17 and a beta of 1.00.

Digi International (NASDAQ:DGII) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. The firm had revenue of $138.67 million during the quarter, compared to the consensus estimate of $132.57 million. Digi International had a net margin of 9.63% and a return on equity of 12.16%. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. As a group, sell-side analysts predict that Digi International Inc. will post 2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in Digi International by 164.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 392 shares of the technology company’s stock valued at $30,000 after purchasing an additional 244 shares in the last quarter. USA Financial Formulas boosted its stake in Digi International by 109.3% in the first quarter. USA Financial Formulas now owns 946 shares of the technology company’s stock worth $46,000 after purchasing an additional 494 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Digi International by 467.8% in the third quarter. Sterling Capital Management LLC now owns 1,181 shares of the technology company’s stock worth $90,000 after purchasing an additional 973 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Digi International by 77.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,511 shares of the technology company’s stock worth $115,000 after purchasing an additional 661 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Digi International during the second quarter worth $154,000. 95.90% of the stock is owned by institutional investors and hedge funds.

About Digi International

Digi International Inc (NASDAQ: DGII) provides Internet of Things (IoT) connectivity products and services that help businesses connect, monitor and manage devices and equipment remotely. Its solutions are used to support connected operations across industrial, transportation, energy, healthcare, retail and other commercial applications.

The company offers cellular routers, gateways, embedded systems, networking hardware and wireless modules. Digi also provides cloud-based device-management software and related services that enable customers to configure, monitor, secure and update connected devices throughout their operating lifecycles.

Digi serves customers internationally through direct sales, channel partners and distributors.