Short Interest in Digi International Inc. (NASDAQ:DGII) Decreases By 7.9%

Digi International Inc. (NASDAQ:DGII) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 2,560,000 shares, a decrease of 7.9% from the November 15th total of 2,780,000 shares. Based on an average daily trading volume, of 196,800 shares, the short-interest ratio is currently 13.0 days.

Analyst Ratings Changes

A number of brokerages have issued reports on DGII. Piper Sandler lifted their target price on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Craig Hallum reissued a “hold” rating and set a $32.00 price objective (up previously from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Insider Buying and Selling at Digi International

In other news, Director Satbir Khanuja sold 7,000 shares of the company’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 transaction, the director now owns 83,255 shares in the company, valued at $2,644,178.80. This represents a 7.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Terrence G. Schneider sold 2,808 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the sale, the vice president now owns 39,002 shares of the company’s stock, valued at approximately $1,289,406.12. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,329 shares of company stock valued at $332,361. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Digi International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in Digi International by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock valued at $24,074,000 after purchasing an additional 11,239 shares during the last quarter. Captrust Financial Advisors grew its position in Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after buying an additional 2,418 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Digi International by 51.8% during the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock valued at $664,000 after acquiring an additional 8,235 shares during the period. Geneva Capital Management LLC raised its holdings in Digi International by 5.0% in 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 in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Digi International by 108.0% in the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock worth $466,000 after acquiring an additional 8,788 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Digi International Stock Up 1.9 %

NASDAQ DGII traded up $0.62 during trading on Monday, hitting $33.78. 50,868 shares of the company traded hands, compared to its average volume of 196,206. Digi International has a 12 month low of $20.17 and a 12 month high of $34.82. The business has a fifty day simple moving average of $31.36 and a 200 day simple moving average of $27.65. The company has a market capitalization of $1.24 billion, a P/E ratio of 54.36, a PEG ratio of 1.21 and a beta of 1.05. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The firm had revenue of $105.05 million during the quarter, compared to analysts’ expectations of $104.16 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Digi International will post 1.65 EPS for the current year.

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.