Digi International (NASDAQ:DGII) Trading Down 6.1%

Digi International Inc. (NASDAQ:DGII) dropped 6.1% on Thursday . The stock traded as low as $27.73 and last traded at $28.86. Approximately 30,426 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 174,112 shares. The stock had previously closed at $30.72.

Analysts Set New Price Targets

Separately, Stephens lifted their price objective on Digi International from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Digi International has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Digi International Price Performance

The company has a current ratio of 2.35, a quick ratio of 1.39 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $961.98 million, a PE ratio of 66.65, a P/E/G ratio of 1.00 and a beta of 1.22. The company has a fifty day moving average price of $30.33 and a two-hundred day moving average price of $27.15.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Digi International had a return on equity of 11.87% and a net margin of 3.61%. The business had revenue of $106.09 million for the quarter, compared to analysts’ expectations of $105.75 million. Sell-side analysts forecast that Digi International Inc. will post 1.8 earnings per share for the current year.

Institutional Investors Weigh In On Digi International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Digi International in the third quarter valued at about $404,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in Digi International by 36.1% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company’s stock worth $14,229,000 after buying an additional 139,720 shares during the last quarter. Summit Creek Advisors LLC bought a new position in shares of Digi International during the 3rd quarter valued at about $6,892,000. New York State Common Retirement Fund increased its holdings in shares of Digi International by 44.4% during the 3rd quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock worth $18,270,000 after acquiring an additional 208,204 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Digi International by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 102,783 shares of the technology company’s stock valued at $2,775,000 after purchasing an additional 502 shares during the period. Institutional investors own 95.90% of the company’s stock.

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.