Digi International Target of Unusually Large Options Trading (NASDAQ:DGII)

Digi International Inc. (NASDAQ:DGII) saw unusually large options trading on Wednesday. Stock traders acquired 1,309 call options on the stock. This represents an increase of 1,797% compared to the average volume of 69 call options.

Several analysts have recently weighed in on the company. Sidoti cut Digi International from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a report on Monday, November 25th. Craig Hallum boosted their price target on Digi International from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BidaskClub raised Digi International from a “hold” rating to a “buy” rating in a research note on Saturday, October 19th. Zacks Investment Research raised Digi International from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Friday, November 15th. Finally, Robert W. Baird started coverage on Digi International in a research note on Friday, November 1st. They issued an “outperform” rating and a $19.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $20.17.

In other news, insider Kevin C. Riley sold 95,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $18.17, for a total transaction of $1,726,150.00. Following the sale, the insider now directly owns 141,670 shares in the company, valued at $2,574,143.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael A. Ueland sold 10,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $18.34, for a total value of $183,400.00. Following the sale, the insider now owns 77,128 shares in the company, valued at $1,414,527.52. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. raised its position in shares of Digi International by 288.9% during the third quarter. Meeder Asset Management Inc. now owns 11,811 shares of the technology company’s stock worth $161,000 after purchasing an additional 8,774 shares during the period. Strs Ohio grew its holdings in Digi International by 7.7% during the second quarter. Strs Ohio now owns 16,700 shares of the technology company’s stock worth $211,000 after buying an additional 1,200 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Digi International by 32.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,676 shares of the technology company’s stock worth $275,000 after buying an additional 5,325 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Digi International by 5.0% during the second quarter. Russell Investments Group Ltd. now owns 33,360 shares of the technology company’s stock worth $423,000 after buying an additional 1,600 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Digi International by 2.0% during the second quarter. Arizona State Retirement System now owns 43,525 shares of the technology company’s stock worth $552,000 after buying an additional 833 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Shares of DGII opened at $17.42 on Thursday. Digi International has a 52-week low of $9.28 and a 52-week high of $18.99. The business’s 50 day moving average price is $15.79 and its two-hundred day moving average price is $13.52. The firm has a market cap of $505.13 million, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.91 and a beta of 1.69.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Thursday, November 14th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Digi International had a return on equity of 2.56% and a net margin of 3.92%. The firm had revenue of $64.96 million for the quarter, compared to analyst estimates of $63.20 million. As a group, equities research analysts expect that Digi International will post 0.64 EPS for the current fiscal year.

About Digi International

Digi International Inc provides Internet of Things connectivity products, services, and solutions in North America, Europe, the Middle East, Africa, Asia, and Latin America. The company operates in two segments, IoT Products & Services and IoT Solutions. It offers cellular routers that provide connectivity for devices over a cellular data network; cellular gateway products that enable devices or groups of devices to be networked in locations where there is no existing network or where access to a network is prohibited; radio frequency products that utilize a range of wireless protocols for PC-to-device or device-to-device connectivity; and Connect, Rabbit, and ARM-based embedded systems on module and single board computers for medical, transportation, and industrial device manufacturers.

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