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

Digi International Inc. (NASDAQ:DGII) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 2,030,000 shares, a decrease 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 currently 9.8 days.

Digi International Stock Up 0.1 %

Shares of DGII stock traded up $0.02 during midday trading on Friday, reaching $30.49. 218,584 shares of the stock were exchanged, compared to its average volume of 198,053. Digi International has a 1 year low of $20.17 and a 1 year high of $34.82. The firm has a market cap 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’s 50 day moving average is $31.53 and its two-hundred day moving average is $28.83. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $105.05 million for 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 firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, equities research analysts predict that Digi International will post 1.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Craig Hallum restated a “hold” rating and set a $32.00 target price (up previously from $28.00) on shares of Digi International in a report on Thursday, November 14th. 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 report 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

Insider Activity

In other news, VP Terrence G. Schneider sold 2,808 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,289,406.12. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Satbir Khanuja sold 7,000 shares of the 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 sale, the director now owns 83,255 shares of the company’s stock, valued at $2,644,178.80. This represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,329 shares of company stock valued at $332,361. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DGII. Geneva Capital Management LLC grew its holdings in Digi International by 5.0% in the third 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 period. BNP Paribas Financial Markets boosted its position 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. Geode Capital Management LLC grew its stake in shares of Digi International by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after buying an additional 11,239 shares during the last quarter. SG Americas Securities LLC increased its position in Digi International by 108.0% during the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after buying an additional 8,788 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock valued at $560,000 after buying an additional 2,418 shares during the last quarter. 95.90% of the stock is currently 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.