Digi International (NASDAQ:DGII) Stock Price Down 3.3% – Should You Sell?

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

Analyst Upgrades and Downgrades

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

Digi International Trading Down 3.6 %

The firm has a 50 day moving average price of $31.63 and a two-hundred day moving average price of $27.83. 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 has a market cap of $1.15 billion, a price-to-earnings ratio of 50.98, a PEG ratio of 1.21 and a beta of 1.05.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $105.05 million during the quarter, compared to analysts’ expectations of $104.16 million. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. As a group, equities analysts forecast that Digi International Inc. will post 1.65 earnings per share for the current year.

Insider Buying and Selling at Digi International

In other Digi International news, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction on 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 $1,289,406.12. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Satbir Khanuja sold 7,000 shares of Digi International stock in a transaction on 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 owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,329 shares of company stock worth $332,361 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Digi International

Large investors have recently modified their holdings of the business. Captrust Financial Advisors lifted its holdings in shares of Digi International by 13.5% during the 3rd quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after acquiring an additional 2,418 shares during the last quarter. SG Americas Securities LLC boosted its holdings 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 purchasing an additional 3,911 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Digi International by 2.1% during 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. Rhumbline Advisers raised its holdings 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 buying an additional 7,208 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in 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 buying an additional 8,235 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

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.