Craig Hallum Reiterates “Hold” Rating for Digi International (NASDAQ:DGII)

Digi International (NASDAQ:DGII)‘s stock had its “hold” rating reaffirmed by Craig Hallum in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $32.00 target price on the technology company’s stock, up from their prior target price of $28.00. Craig Hallum’s price objective would suggest a potential upside of 0.09% from the company’s current price.

Separately, Piper Sandler dropped their price target on Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Digi International Stock Performance

NASDAQ DGII opened at $31.97 on Thursday. The company has a fifty day moving average of $28.98 and a two-hundred day moving average of $26.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.00 and a quick ratio of 1.31. Digi International has a 1 year low of $20.17 and a 1 year high of $33.33. The company has a market capitalization of $1.16 billion, a PE ratio of 69.50, a P/E/G ratio of 1.09 and a beta of 1.06.

Hedge Funds Weigh In On Digi International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneva Capital Management LLC raised its stake in Digi International by 5.0% during the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock valued at $45,560,000 after acquiring an additional 79,313 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Digi International by 216.7% in the second quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock valued at $2,091,000 after purchasing an additional 62,402 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Digi International by 1,814.0% during the first quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock worth $1,844,000 after purchasing an additional 54,746 shares during the last quarter. Summit Creek Advisors LLC lifted its holdings in shares of Digi International by 13.9% during the first quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock worth $10,819,000 after purchasing an additional 41,392 shares during the period. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Digi International during the second quarter worth $498,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.