Digi International (NASDAQ:DGII) Given New $32.00 Price Target at Piper Sandler

Digi International (NASDAQ:DGII) had its target price hoisted by Piper Sandler from $26.00 to $32.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Separately, Craig Hallum reaffirmed a “hold” rating and set a $32.00 target price (up from $28.00) on shares of Digi International in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Digi International Stock Performance

Shares of Digi International stock traded down $0.28 during trading hours on Thursday, reaching $31.40. The company’s stock had a trading volume of 230,822 shares, compared to its average volume of 193,587. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.31 and a current ratio of 2.00. Digi International has a one year low of $20.17 and a one year high of $34.08. The company’s 50 day simple moving average is $28.98 and its 200 day simple moving average is $26.75. The stock has a market cap of $1.14 billion, a P/E ratio of 51.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its holdings in Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after purchasing an additional 2,418 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Digi International by 92.5% in the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after buying an additional 3,911 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Digi International by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock valued at $7,172,000 after buying an additional 6,534 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Digi International by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock valued at $2,627,000 after purchasing an additional 7,208 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Digi International by 51.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after purchasing an additional 8,235 shares in the last quarter. Institutional investors and hedge funds 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.