Digi International Inc. (NASDAQ:DGII) Short Interest Update

Digi International Inc. (NASDAQ:DGII) saw a significant decline in short interest in the month of 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 volume of 206,700 shares, the short-interest ratio is presently 9.8 days.

Digi International Stock Up 0.1 %

DGII opened at $30.49 on Friday. The company has a market capitalization of $1.12 billion, a PE ratio of 49.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.13. Digi International has a fifty-two week low of $20.17 and a fifty-two week high of $34.82. The business has a 50-day moving average of $31.49 and a 200-day moving average of $28.92.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DGII shares. StockNews.com upgraded Digi International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Piper Sandler raised their price target on shares of Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. 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 research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Digi International has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Insider Transactions at Digi International

In other 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 value of $92,832.48. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Satbir Khanuja sold 7,000 shares of the firm’s 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 completion of the sale, the director now directly 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 position. The disclosure for this sale can be found here. Insiders have sold 10,329 shares of company stock valued at $332,361 over the last three months. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Digi International

Hedge funds have recently bought and sold shares of the business. Geneva Capital Management LLC grew its holdings in Digi International by 5.0% during the third 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 last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Digi International by 51.8% during 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 period. Geode Capital Management LLC grew its stake in Digi International by 1.3% in the 3rd 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 during the last quarter. SG Americas Securities LLC raised its holdings in 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, Captrust Financial Advisors lifted its position in 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. 95.90% of the stock is owned by institutional investors and hedge funds.

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.