Notable Mover: What’s Propelling Digi International Inc. to Reach 52-Week High?

Notable Mover: What's Propelling Digi International Inc. to Reach 52 Week High?

The stock of Digi International Inc. (NASDAQ:DGII) hit a new 52-week high and has $15.21 target or 9.00% above today’s $13.95 share price. The 5 months bullish chart indicates low risk for the $374.20 million company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $15.21 price target is reached, the company will be worth $33.68 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 92,021 shares traded hands. Digi International Inc. (NASDAQ:DGII) has risen 51.52% since April 26, 2016 and is uptrending. It has outperformed by 46.26% the S&P500.

Analysts await Digi International Inc. (NASDAQ:DGII) to report earnings on January, 19. They expect $0.07 EPS, down 36.36% or $0.04 from last year’s $0.11 per share. DGII’s profit will be $1.88 million for 49.82 P/E if the $0.07 EPS becomes a reality. After $0.14 actual EPS reported by Digi International Inc. for the previous quarter, Wall Street now forecasts -50.00% negative EPS growth.

Digi International Inc. (NASDAQ:DGII) Ratings Coverage

Out of 3 analysts covering Digi Intl (NASDAQ:DGII), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Digi Intl has been the topic of 4 analyst reports since August 28, 2015 according to StockzIntelligence Inc. Sidoti downgraded the stock to “Neutral” rating in Wednesday, August 24 report. On Tuesday, September 1 the stock rating was initiated by Stephens with “Overweight”. The stock of Digi International Inc. (NASDAQ:DGII) has “Buy” rating given on Monday, January 25 by Sidoti. The firm has “Buy” rating by Lake Street given on Friday, August 28.

According to Zacks Investment Research, “Digi International Inc. is a worldwide provider of communications hardware and software delivering seamless connectivity solutions for peripheral server-based remote access and local area networking markets. The Company operates exclusively in a single business segment and sells its products through a global network of distributors, systems integrators, value-added resellers and original equipment manufacturers. They also sell direct to select accounts and the government.”

Insitutional Activity: The institutional sentiment decreased to 1.38 in Q2 2016. Its down 0.11, from 1.49 in 2016Q1. The ratio turned negative, as 9 funds sold all Digi International Inc. shares owned while 32 reduced positions. 17 funds bought stakes while 44 increased positions. They now own 20.95 million shares or 0.57% less from 21.07 million shares in 2016Q1.
Moreover, Blackrock Japan Limited has 0% invested in Digi International Inc. (NASDAQ:DGII) for 732 shares. Finemark Bancshares has 0% invested in the company for 190 shares. Citadel Ltd Liability Corp has 28,235 shares for 0% of their US portfolio. Aqr Management Limited Co has 0% invested in the company for 86,942 shares. Morgan Stanley holds 158,008 shares or 0% of its portfolio. Wells Fargo Mn reported 8,926 shares or 0% of all its holdings. Clarivest Asset Mgmt Ltd Co accumulated 0.01% or 35,286 shares. Blackrock reported 10,000 shares or 0% of all its holdings. Springbank Value Prns Lp last reported 1,000 shares in the company. Wealthtrust holds 0.01% of its portfolio in Digi International Inc. (NASDAQ:DGII) for 818 shares. The Ontario – Canada-based Edgepoint Invest Grp Inc Inc has invested 0.42% in Digi International Inc. (NASDAQ:DGII). Principal Finance accumulated 0% or 183,503 shares. Grt Prtnrs Ltd Liability Co has invested 0.03% of its portfolio in Digi International Inc. (NASDAQ:DGII). Blackrock Fund accumulated 1.72 million shares or 0% of the stock. Schwab Charles Management Inc reported 43,000 shares or 0% of all its holdings.

More important recent Digi International Inc. (NASDAQ:DGII) news were published by: Marketwatch.com which released: “Digi International soars as Belden discloses $380 million buyout offer” on November 11, 2016, also Startribune.com published article titled: “Digi board rejects Belden’s second offer; investors act as if company is in play”, Businesswire.com published: “Belden Submits Proposal to Digi International Inc. Regarding Potential Acquisition” on November 11, 2016. More interesting news about Digi International Inc. (NASDAQ:DGII) was released by: Bizjournals.com and their article: “Startup FreshTemp acquired by Digi International” with publication date: November 23, 2016.

DGII Company Profile

Digi International Inc. (Digi), incorporated on June 28, 1989, is a well-known provider of machine-to-machine (M2M) networking hardware and solutions. The Company’s solutions are aimed at connection, monitoring and control of local or remote physical assets by electronic means. The networking products and solutions can connect communication hardware to a physical asset, convey information about the asset’s status and performance to a computer system, and then use that information to improve or automate one or more processes. Digi’s solutions are used in wireless networks as wireless networking technologies. The Company’s solutions portfolio includes wireless and wired hardware products, and services and solutions, including professional consulting services, product design and development services, The Device Cloud by Etherios (Device Cloud), which is a platform as-a-service (PAAS) offering, and application development services.

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