Digi International (NASDAQ:DGII) Shares Gap Up to $23.20

Digi International Inc. (NASDAQ:DGII)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $23.20, but opened at $25.23. Digi International shares last traded at $25.52, with a volume of 13,392 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DGII. Piper Sandler reduced their price target on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday. Roth Mkm reduced their target price on Digi International from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. StockNews.com raised Digi International from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Finally, Craig Hallum cut their price target on Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Digi International presently has an average rating of “Moderate Buy” and an average target price of $34.20.

Digi International Stock Up 18.8 %

The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 68.82, a PEG ratio of 0.87 and a beta of 1.07. The company has a quick ratio of 1.28, a current ratio of 2.05 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $23.73 and a 200-day moving average price of $27.07.

Institutional Trading of Digi International

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Digi International by 687.7% during the 1st quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock valued at $31,000 after acquiring an additional 839 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Digi International during the 1st quarter valued at about $33,000. NBC Securities Inc. acquired a new position in Digi International during the 1st quarter worth approximately $78,000. SG Americas Securities LLC boosted its holdings in 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 acquiring an additional 3,911 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in Digi International in the 1st quarter worth approximately $139,000. 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.