Digital Turbine (NASDAQ:APPS) Trading Down 7.1% – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS) was down 7.1% during mid-day trading on Monday . The company traded as low as $11.86 and last traded at $11.8060. Approximately 3,021,693 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 4,230,423 shares. The stock had previously closed at $12.71.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APPS. Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research raised Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 28th. Weiss Ratings downgraded Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Finally, Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Digital Turbine presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Digital Turbine Price Performance

The firm has a market capitalization of $1.41 billion, a PE ratio of -32.60, a P/E/G ratio of 0.98 and a beta of 2.75. The firm’s fifty day moving average price is $7.32 and its 200 day moving average price is $5.33. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.84.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.07. The firm had revenue of $142.55 million during the quarter, compared to analysts’ expectations of $133.22 million. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. As a group, equities analysts forecast that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.

Institutional Trading of Digital Turbine

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP lifted its holdings in Digital Turbine by 1,323.4% in the fourth quarter. Quarry LP now owns 5,594 shares of the software maker’s stock valued at $28,000 after acquiring an additional 5,201 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Digital Turbine during the 4th quarter valued at approximately $44,000. Essential Partners LLC increased its holdings in shares of Digital Turbine by 167.3% during the 1st quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after purchasing an additional 5,652 shares in the last quarter. Smartleaf Asset Management LLC acquired a new position in shares of Digital Turbine in the 2nd quarter valued at $57,000. Finally, PFG Investments LLC purchased a new stake in Digital Turbine during the fourth quarter worth $50,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Company Profile

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.