BidaskClub Lowers Digi International (DGII) to Strong Sell

BidaskClub downgraded shares of Digi International (NASDAQ:DGII) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday.

Several other brokerages have also weighed in on DGII. Sidoti lowered shares of Digi International from a buy rating to a neutral rating and set a $12.00 target price on the stock. in a research report on Monday, October 16th. TheStreet upgraded shares of Digi International from a c+ rating to a b rating in a research report on Friday, October 27th. Canaccord Genuity reiterated a buy rating on shares of Digi International in a research report on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Digi International from a hold rating to a sell rating in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Digi International has a consensus rating of Hold and an average price target of $14.00.

Shares of Digi International (DGII) traded down $0.25 during trading on Wednesday, hitting $9.45. 80,125 shares of the stock traded hands, compared to its average volume of 73,087. Digi International has a 1-year low of $8.50 and a 1-year high of $14.10. The firm has a market cap of $258.64, a price-to-earnings ratio of 26.22 and a beta of 1.44.

Digi International (NASDAQ:DGII) last issued its earnings results on Thursday, October 26th. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. Digi International had a net margin of 5.16% and a return on equity of 3.24%. The business had revenue of $45.10 million for the quarter, compared to analyst estimates of $45.66 million. During the same period in the previous year, the business earned $0.14 EPS. The firm’s revenue was down 10.7% on a year-over-year basis. equities research analysts anticipate that Digi International will post 0.25 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System lifted its holdings in Digi International by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 13,841 shares of the technology company’s stock valued at $140,000 after purchasing an additional 100 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in Digi International by 6.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 15,830 shares of the technology company’s stock valued at $161,000 after purchasing an additional 910 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Digi International by 3.5% during the 2nd quarter. Teachers Advisors LLC now owns 42,937 shares of the technology company’s stock valued at $436,000 after purchasing an additional 1,464 shares during the last quarter. Rhumbline Advisers lifted its holdings in Digi International by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 54,451 shares of the technology company’s stock valued at $553,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Digi International by 72.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 76,440 shares of the technology company’s stock valued at $776,000 after purchasing an additional 32,050 shares during the last quarter. 77.79% of the stock is owned by hedge funds and other institutional investors.

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Digi International Company Profile

Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.

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