Digi International Inc. (NASDAQ:DGII) Short Interest Down 14.7% in December

Digi International Inc. (NASDAQ:DGII) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 2,030,000 shares, a decline of 14.7% from the December 15th total of 2,380,000 shares. Based on an average daily trading volume, of 206,700 shares, the days-to-cover ratio is currently 9.8 days.

Analyst Ratings Changes

A number of brokerages have issued reports on DGII. Piper Sandler raised their price objective on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. StockNews.com upgraded Digi International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Craig Hallum reiterated a “hold” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Digi International in a report on Thursday, November 14th. Two equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.75.

Insider Activity at Digi International

In other Digi International news, VP Terrence G. Schneider sold 2,808 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,289,406.12. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Satbir Khanuja sold 7,000 shares of the 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 sale, the director now owns 83,255 shares in the company, valued at $2,644,178.80. The trade was a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,329 shares of company stock valued at $332,361 in the last 90 days. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Geneva Capital Management LLC increased its position in shares of Digi International by 5.0% during the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock worth $45,560,000 after purchasing an additional 79,313 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Digi International by 1.3% in the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock valued at $24,074,000 after buying an additional 11,239 shares in the last quarter. Rhumbline Advisers increased its holdings in Digi International by 6.7% during the second quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock worth $2,627,000 after buying an additional 7,208 shares during the last quarter. BNP Paribas Financial Markets raised 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 acquiring an additional 8,235 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in Digi International by 13.5% in the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock valued at $560,000 after acquiring an additional 2,418 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Digi International Trading Up 0.1 %

Shares of NASDAQ DGII opened at $30.49 on Friday. Digi International has a twelve month low of $20.17 and a twelve month high of $34.82. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 49.98, a P/E/G ratio of 1.01 and a beta of 1.07. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $31.49 and its 200-day moving average is $28.92.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The business had revenue of $105.05 million during the quarter, compared to analyst estimates of $104.16 million. During the same period in the previous year, the firm earned $0.44 EPS. Digi International’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts predict that Digi International will post 1.65 EPS for the current year.

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.