Digi International’s (DGII) “Buy” Rating Reaffirmed at Canaccord Genuity

Digi International (NASDAQ:DGII)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a research report issued on Thursday, AnalystRatings.com reports. They presently have a $26.00 target price on the technology company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 72.19% from the company’s current price.

DGII has been the topic of a number of other research reports. BidaskClub raised Digi International from a “hold” rating to a “buy” rating in a report on Saturday, October 19th. Robert W. Baird initiated coverage on Digi International in a report on Friday, November 1st. They issued an “outperform” rating and a $19.00 target price on the stock. Zacks Investment Research downgraded Digi International from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, ValuEngine downgraded Digi International from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Digi International presently has an average rating of “Buy” and an average target price of $19.50.

DGII stock traded up $0.33 during trading on Thursday, reaching $15.10. The stock had a trading volume of 325,200 shares, compared to its average volume of 135,377. Digi International has a 52 week low of $9.28 and a 52 week high of $15.87. The stock’s 50 day moving average is $14.04 and its two-hundred day moving average is $12.98. The firm has a market cap of $417.83 million, a PE ratio of 302.00, a PEG ratio of 2.28 and a beta of 1.58.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in shares of Digi International by 288.9% in the third quarter. Meeder Asset Management Inc. now owns 11,811 shares of the technology company’s stock worth $161,000 after buying an additional 8,774 shares during the period. Strs Ohio raised its stake in shares of Digi International by 7.7% in the second quarter. Strs Ohio now owns 16,700 shares of the technology company’s stock worth $211,000 after buying an additional 1,200 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Digi International by 32.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,676 shares of the technology company’s stock worth $275,000 after buying an additional 5,325 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Digi International by 5.0% in the second quarter. Russell Investments Group Ltd. now owns 33,360 shares of the technology company’s stock worth $423,000 after buying an additional 1,600 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Digi International by 2.0% in the second quarter. Arizona State Retirement System now owns 43,525 shares of the technology company’s stock worth $552,000 after buying an additional 833 shares during the period. 81.48% of the stock is currently owned by hedge funds and other institutional investors.

Digi International Company Profile

Digi International Inc provides Internet of Things connectivity products, services, and solutions in North America, Europe, the Middle East, Africa, Asia, and Latin America. The company operates in two segments, IoT Products & Services and IoT Solutions. It offers cellular routers that provide connectivity for devices over a cellular data network; cellular gateway products that enable devices or groups of devices to be networked in locations where there is no existing network or where access to a network is prohibited; radio frequency products that utilize a range of wireless protocols for PC-to-device or device-to-device connectivity; and Connect, Rabbit, and ARM-based embedded systems on module and single board computers for medical, transportation, and industrial device manufacturers.

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