Digi International (NASDAQ:DGII) Stock Price Down 3.3% – Time to Sell?

Digi International Inc. (NASDAQ:DGII) shares dropped 3.3% during trading on Friday . The company traded as low as $31.01 and last traded at $31.20. Approximately 351,169 shares traded hands during trading, an increase of 77% from the average daily volume of 198,346 shares. The stock had previously closed at $32.25.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Craig Hallum reiterated a “hold” rating and issued a $32.00 target price (up previously from $28.00) on shares of Digi International in a research note on Thursday, November 14th. StockNews.com upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Piper Sandler upped their target price 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. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.75.

Digi International Stock Performance

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 50.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $31.66 and a 200-day simple moving average of $27.91.

Digi International (NASDAQ:DGII) last posted its quarterly earnings results 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. The firm had revenue of $105.05 million for the quarter, compared to analysts’ expectations of $104.16 million. Digi International had a net margin of 5.31% and a return on equity of 11.24%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. On average, analysts anticipate that Digi International Inc. will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Satbir Khanuja sold 7,000 shares of Digi International stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the completion of the transaction, the director now directly owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. The trade was a 7.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the sale, the vice president now owns 39,002 shares in the company, valued at approximately $1,289,406.12. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,329 shares of company stock worth $332,361. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Digi International

Several institutional investors have recently made changes to their positions in DGII. Geneva Capital Management LLC boosted its position in 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 valued at $45,560,000 after purchasing an additional 79,313 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in shares of Digi International during the second quarter valued at $498,000. BNP Paribas Financial Markets grew its position in shares of 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 during the last quarter. SG Americas Securities LLC increased its holdings in shares of Digi International by 108.0% in the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock worth $466,000 after acquiring an additional 8,788 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Digi International by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock valued at $7,172,000 after purchasing an additional 6,534 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

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.