Digi International (NASDAQ:DGII) Sets New 1-Year High – What’s Next?

Digi International Inc. (NASDAQ:DGII)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $33.10 and last traded at $33.10, with a volume of 202 shares traded. The stock had previously closed at $32.33.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler reduced their price objective on Digi International from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Craig Hallum reduced their price target on shares of Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Digi International currently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Digi International Stock Performance

The company has a quick ratio of 1.31, a current ratio of 2.00 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $28.82 and a 200-day moving average price of $26.70. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 70.87, a price-to-earnings-growth ratio of 1.08 and a beta of 1.06.

Hedge Funds Weigh In On Digi International

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Digi International by 92.5% during the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after purchasing an additional 3,911 shares in the last quarter. Verity Asset Management Inc. acquired a new stake in shares of Digi International in the 1st quarter valued at approximately $269,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Digi International in the second quarter valued at approximately $498,000. BNP Paribas Financial Markets grew its holdings in Digi International by 52.6% during the first quarter. BNP Paribas Financial Markets now owns 29,940 shares of the technology company’s stock worth $956,000 after acquiring an additional 10,317 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Digi International by 1,814.0% in the first quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock worth $1,844,000 after acquiring an additional 54,746 shares in the last quarter. 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.