Digi International (NASDAQ:DGII) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Digi International (NASDAQ:DGII – Get Rating) in a research report sent to investors on Thursday. The firm issued a buy rating on the technology company’s stock.

A number of other analysts also recently issued reports on the company. Cantor Fitzgerald reiterated an overweight rating and set a $48.00 price target on shares of Digi International in a research report on Friday, February 3rd. Craig Hallum lifted their price target on Digi International to $48.00 in a research report on Wednesday, November 16th. Finally, Piper Sandler lifted their price target on Digi International to $50.00 in a research report on Wednesday, November 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $47.00.

Digi International Stock Down 2.7 %

Shares of NASDAQ DGII opened at $31.77 on Thursday. Digi International has a 52 week low of $18.54 and a 52 week high of $43.68. The business has a 50-day simple moving average of $34.45 and a two-hundred day simple moving average of $36.21. The company has a quick ratio of 0.99, a current ratio of 1.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.14 billion, a P/E ratio of 47.42, a P/E/G ratio of 0.92 and a beta of 1.25.

Insider Buying and Selling

In related news, CFO James J. Loch sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $33.97, for a total value of $237,790.00. Following the completion of the sale, the chief financial officer now owns 102,367 shares in the company, valued at approximately $3,477,406.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Digi International news, CFO James J. Loch sold 7,000 shares of Digi International stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $33.97, for a total value of $237,790.00. Following the transaction, the chief financial officer now directly owns 102,367 shares of the company’s stock, valued at approximately $3,477,406.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald Konezny sold 30,000 shares of Digi International stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $33.79, for a total value of $1,013,700.00. Following the completion of the transaction, the chief executive officer now directly owns 622,958 shares in the company, valued at $21,049,750.82. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Digi International

Large investors have recently bought and sold shares of the stock. New York State Teachers Retirement System increased its stake in shares of Digi International by 1.4% during the third quarter. New York State Teachers Retirement System now owns 59,752 shares of the technology company’s stock valued at $2,066,000 after buying an additional 829 shares during the period. New York State Common Retirement Fund increased its stake in shares of Digi International by 6.9% during the third quarter. New York State Common Retirement Fund now owns 24,626 shares of the technology company’s stock valued at $851,000 after buying an additional 1,600 shares during the period. Strs Ohio increased its stake in shares of Digi International by 1.3% during the third quarter. Strs Ohio now owns 23,500 shares of the technology company’s stock valued at $812,000 after buying an additional 300 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of Digi International by 127.3% during the second quarter. Essex Investment Management Co. LLC now owns 406,347 shares of the technology company’s stock valued at $9,842,000 after buying an additional 227,598 shares during the period. Finally, Verity Asset Management Inc. purchased a new position in shares of Digi International during the third quarter valued at approximately $202,000. 93.28% of the stock is owned by hedge funds and other institutional investors.

About Digi International

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Digi International, Inc engages in the provision of business and mission-critical Internet of Things (IoT) connectivity products, services, and solutions. It operates under the IoT Products and Services and IoT Solutions segments. The IoT Products and Services segment offers products and services that help original equipment manufacturers, enterprise, and government customers and secure IoT connectivity solutions.