Digi International (NASDAQ:DGII) Price Target Cut to $26.00 by Analysts at Piper Sandler

Digi International (NASDAQ:DGII) had its price target trimmed by Piper Sandler from $27.00 to $26.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

DGII has been the subject of several other reports. StockNews.com raised shares of Digi International from a hold rating to a buy rating in a research report on Saturday, June 15th. Roth Mkm decreased their price objective on shares of Digi International from $40.00 to $38.00 and set a buy rating for the company in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $34.20.

Digi International Stock Down 1.3 %

Shares of Digi International stock traded down $0.36 during trading on Thursday, hitting $27.22. 332,994 shares of the stock traded hands, compared to its average volume of 200,325. The stock has a market cap of $990.13 million, a P/E ratio of 71.63, a PEG ratio of 0.87 and a beta of 1.07. The company has a fifty day moving average price of $23.78 and a two-hundred day moving average price of $27.07. Digi International has a twelve month low of $20.17 and a twelve month high of $33.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 2.05.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Geneva Capital Management LLC raised its position in shares of Digi International by 20.9% during the first quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock valued at $53,887,000 after buying an additional 291,618 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Digi International by 1,814.0% in the 1st quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock valued at $1,844,000 after acquiring an additional 54,746 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Digi International by 216.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock worth $2,091,000 after acquiring an additional 62,402 shares during the period. Summit Creek Advisors LLC grew its holdings in shares of Digi International by 16.5% during the 4th quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock worth $7,733,000 after purchasing an additional 42,179 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Digi International by 687.7% during the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock valued at $31,000 after purchasing an additional 839 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.