Digi International (DGII) Downgraded to Strong Sell at BidaskClub

BidaskClub lowered shares of Digi International (NASDAQ:DGII) from a sell rating to a strong sell rating in a report released on Wednesday morning.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research raised Digi International from a sell rating to a hold rating in a research note on Tuesday, November 14th. Canaccord Genuity reissued a buy rating on shares of Digi International in a research note on Friday, October 27th. TheStreet raised Digi International from a c+ rating to a b rating in a research note on Friday, October 27th. Finally, Sidoti cut Digi International from a buy rating to a neutral rating and set a $12.00 price objective for the company. in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $14.00.

Shares of Digi International (NASDAQ:DGII) traded up $0.05 during trading on Wednesday, reaching $9.70. The company’s stock had a trading volume of 97,500 shares, compared to its average volume of 85,217. Digi International has a 12-month low of $8.50 and a 12-month high of $14.10. The firm has a market capitalization of $257.31, a PE ratio of 26.08 and a beta of 1.44.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. Digi International had a return on equity of 3.24% and a net margin of 5.16%. The firm had revenue of $45.10 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same quarter last year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. equities analysts expect that Digi International will post 0.25 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its position in shares of Digi International by 0.7% during the second quarter. Arizona State Retirement System now owns 13,841 shares of the technology company’s stock valued at $140,000 after buying an additional 100 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Digi International by 0.9% during the second quarter. Russell Investments Group Ltd. now owns 82,377 shares of the technology company’s stock valued at $835,000 after buying an additional 700 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Digi International by 6.1% during the second quarter. Thrivent Financial For Lutherans now owns 15,830 shares of the technology company’s stock valued at $161,000 after buying an additional 910 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Digi International by 2.0% during the second quarter. Rhumbline Advisers now owns 54,451 shares of the technology company’s stock valued at $553,000 after buying an additional 1,075 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Digi International by 3.5% during the second quarter. Teachers Advisors LLC now owns 42,937 shares of the technology company’s stock valued at $436,000 after buying an additional 1,464 shares during the last quarter. 77.79% of the stock is currently owned by institutional investors.

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About Digi International

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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