Digi International (NASDAQ:DGII) Price Target Raised to $32.00 at Piper Sandler

by · The Cerbat Gem

Digi International (NASDAQ:DGII – Free Report) had its price target increased by Piper Sandler from $26.00 to $32.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Separately, Craig Hallum reissued a “hold” rating and set a $32.00 target price (up previously from $28.00) on shares of Digi International in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Digi International has an average rating of “Moderate Buy” and an average target price of $36.20.

Read Our Latest Stock Analysis on DGII

Digi International Trading Down 0.9 %

Digi International stock traded down $0.28 during midday trading on Thursday, reaching $31.40. The stock had a trading volume of 230,822 shares, compared to its average volume of 193,587. The stock’s 50-day simple moving average is $28.98 and its 200 day simple moving average is $26.75. Digi International has a twelve month low of $20.17 and a twelve month high of $34.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.31 and a current ratio of 2.00. The stock has a market capitalization of $1.14 billion, a PE ratio of 51.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of Digi International by 92.5% in the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock valued at $187,000 after purchasing an additional 3,911 shares in the last quarter. Verity Asset Management Inc. bought a new position in Digi International during the 1st quarter valued at $269,000. Cornercap Investment Counsel Inc. acquired a new position in Digi International during the 2nd quarter worth $498,000. Captrust Financial Advisors raised its stake in shares of Digi International by 13.5% in 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 in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Digi International by 51.8% during the third 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 during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Digi International Company Profile

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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.

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