Digi International (NASDAQ:DGII) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, December 26th.
According to Zacks, “Digi International Inc. is a leading global provider of business and mission-critical Internet of Things (IoT) products and services. They help their customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security, relentless reliability and bulletproof performance. Digi International, Inc. (Digi) was formed in 1985-long before anyone coined the term the Internet of Things. They always focused on connecting things, starting with intelligent multiport serial boards for PCs. As wireless data technologies evolved, they invented right along with it, expanding their product lines with RF modules, gateways, and cellular routers to build critical communications infrastructures, plus embedded wireless system on module (SoM) and single-board computer (SBC) offerings for makers of next generation connected products. “
Other research analysts have also recently issued reports about the stock. Canaccord Genuity restated a “buy” rating on shares of Digi International in a report on Friday, October 27th. BidaskClub cut shares of Digi International from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 6th. Sidoti raised shares of Digi International from a “neutral” rating to a “buy” rating in a research report on Monday, December 11th. Finally, TheStreet raised shares of Digi International from a “c+” rating to a “b” rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Digi International currently has an average rating of “Hold” and a consensus price target of $14.00.
Shares of Digi International (NASDAQ:DGII) traded up $0.25 during midday trading on Tuesday, hitting $10.15. 64,603 shares of the stock were exchanged, compared to its average volume of 95,246. The firm has a market capitalization of $278.85, a PE ratio of 29.00 and a beta of 1.44. Digi International has a 52-week low of $8.50 and a 52-week high of $14.00.
Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. Digi International had a net margin of 5.16% and a return on equity of 3.24%. The firm had revenue of $45.10 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same period last year, the company earned $0.14 earnings per share. The business’s revenue was down 10.7% on a year-over-year basis. equities research analysts predict that Digi International will post 0.25 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in shares of Digi International by 5.1% in the second quarter. State Street Corp now owns 729,474 shares of the technology company’s stock valued at $7,399,000 after purchasing an additional 35,133 shares during the period. Ameriprise Financial Inc. raised its position in shares of Digi International by 12.2% in the second quarter. Ameriprise Financial Inc. now owns 599,573 shares of the technology company’s stock valued at $6,086,000 after purchasing an additional 65,430 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Digi International by 6.7% in the second quarter. TIAA CREF Investment Management LLC now owns 128,218 shares of the technology company’s stock valued at $1,301,000 after purchasing an additional 8,056 shares during the period. Russell Investments Group Ltd. increased its holdings in Digi International by 0.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 82,377 shares of the technology company’s stock worth $835,000 after acquiring an additional 700 shares during the period. Finally, Gamco Investors INC. ET AL increased 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 worth $776,000 after acquiring an additional 32,050 shares during the period. 77.41% of the stock is currently owned by 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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