Digi International (NASDAQ:DGII) Shares Up 4.3% After Analyst Upgrade

Digi International Inc. (NASDAQ:DGII)’s share price was up 4.3% during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $26.00 to $32.00. Piper Sandler currently has a neutral rating on the stock. Digi International traded as high as $34.09 and last traded at $33.36. Approximately 74,796 shares were traded during trading, a decline of 61% from the average daily volume of 191,841 shares. The stock had previously closed at $31.97.

Separately, Craig Hallum restated a “hold” rating and issued a $32.00 price objective (up from $28.00) on shares of Digi International in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Institutional Trading of Digi International

A number of institutional investors have recently added to or reduced their stakes in the stock. Geneva Capital Management LLC raised its holdings in Digi International by 5.0% in the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock valued at $45,560,000 after acquiring an additional 79,313 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Digi International by 216.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock valued at $2,091,000 after buying an additional 62,402 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Digi International by 1,814.0% in the 1st quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock valued at $1,844,000 after purchasing an additional 54,746 shares in the last quarter. Summit Creek Advisors LLC raised its stake in shares of Digi International by 13.9% in the 1st quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock valued at $10,819,000 after purchasing an additional 41,392 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Digi International in the 2nd quarter valued at about $498,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Digi International Trading Down 0.9 %

The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 67.11, a price-to-earnings-growth ratio of 1.09 and a beta of 1.06. The firm’s 50 day moving average is $28.98 and its two-hundred day moving average is $26.75. The company has a quick ratio of 1.31, a current ratio of 2.00 and a debt-to-equity ratio of 0.27.

About Digi International

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.