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

Digi International Inc. (NASDAQ:DGII) was the recipient of a significant decline in short interest during 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 trading volume of 206,700 shares, the days-to-cover ratio is currently 9.8 days.

Insider Buying and Selling at Digi International

In related news, Director Satbir Khanuja sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $31.76, for a total value of $222,320.00. Following the sale, the director now directly owns 83,255 shares in the company, valued at approximately $2,644,178.80. The trade was a 7.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the transaction, the vice president now owns 39,002 shares of the company’s stock, valued at $1,289,406.12. This represents a 6.72 % decrease in their position. 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 three months. 3.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Digi International

Several hedge funds have recently bought and sold shares of DGII. Rhumbline Advisers raised 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 buying an additional 7,208 shares in the last quarter. SG Americas Securities LLC raised its position in Digi International by 108.0% during the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after purchasing an additional 8,788 shares in the last quarter. Geneva Capital Management LLC lifted its stake 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 worth $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% 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. Finally, Captrust Financial Advisors increased its position 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 valued at $560,000 after purchasing an additional 2,418 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

Digi International Price Performance

Shares of DGII traded up $0.02 during mid-day trading on Friday, reaching $30.49. 218,584 shares of the stock traded hands, compared to its average volume of 198,053. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 49.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. Digi International has a 1 year low of $20.17 and a 1 year high of $34.82. The firm has a fifty day moving average price of $31.53 and a 200 day moving average price of $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 announced its earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $105.05 million for the quarter, compared to analyst estimates of $104.16 million. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. As a group, equities research analysts predict that Digi International will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DGII has been the subject of several analyst reports. StockNews.com raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Craig Hallum reaffirmed a “hold” rating and issued a $32.00 price target (up from $28.00) on shares of Digi International in a report on Thursday, November 14th. Finally, Piper Sandler boosted their price objective on Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.75.

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.