Digi International (NASDAQ:DGII) Stock Rating Lowered by StockNews.com

Digi International (NASDAQ:DGII) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other equities analysts have also commented on DGII. Stephens reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Digi International in a research report on Thursday, February 6th. Piper Sandler lowered their price objective on shares of Digi International from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Digi International Stock Performance

Shares of NASDAQ:DGII opened at $26.47 on Tuesday. The firm’s 50 day simple moving average is $30.11 and its 200-day simple moving average is $30.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.61. Digi International has a one year low of $20.17 and a one year high of $37.07. The firm has a market cap of $976.72 million, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88.

Digi International (NASDAQ:DGII) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a return on equity of 11.16% and a net margin of 8.45%. As a group, equities analysts predict that Digi International will post 1.68 EPS for the current year.

Hedge Funds Weigh In On Digi International

Hedge funds have recently modified their holdings of the business. New Age Alpha Advisors LLC purchased a new position in shares of Digi International in the 4th quarter valued at about $1,400,000. Pacer Advisors Inc. increased its stake in Digi International by 110.2% in the fourth quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock valued at $300,000 after purchasing an additional 5,207 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Digi International by 51.8% during the third 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. Geode Capital Management LLC boosted its stake in Digi International by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after buying an additional 11,239 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Digi International in the 4th quarter worth about $196,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.