Digital Turbine Inc (APPS) Sees Large Volume Increase
Digital Turbine Inc (NASDAQ:APPS) saw strong trading volume on Friday . 395,328 shares traded hands during mid-day trading, an increase of 72% from the previous session’s volume of 230,492 shares.The stock last traded at $1.36 and had previously closed at $1.30.
Several equities analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating and issued a $1.15 price target on shares of Digital Turbine in a research report on Monday, June 12th. Zacks Investment Research raised Digital Turbine from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research report on Wednesday, June 28th. Roth Capital set a $1.00 price target on Digital Turbine and gave the stock a “buy” rating in a research report on Friday, July 28th. ValuEngine lowered Digital Turbine from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 20th. Finally, Ladenburg Thalmann Financial Services lifted their price target on Digital Turbine from $1.25 to $2.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1.43.
The stock has a 50-day moving average of $1.14 and a 200-day moving average of $1.04. The company’s market capitalization is $89.26 million.
Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Monday, August 7th. The software maker reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $26.10 million during the quarter, compared to analysts’ expectations of $24.46 million. Digital Turbine had a negative return on equity of 27.78% and a negative net margin of 15.98%. During the same period in the prior year, the business posted ($0.11) EPS. On average, equities research analysts expect that Digital Turbine Inc will post ($0.11) earnings per share for the current year.
In related news, CEO William Gordon Stone III acquired 126,400 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $1.12 per share, for a total transaction of $141,568.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Unterberg Capital LLC purchased a new stake in Digital Turbine in the second quarter valued at about $412,000. Weiss Multi Strategy Advisers LLC purchased a new stake in Digital Turbine in the first quarter valued at about $188,000. Carleon Capital Partners LLC purchased a new stake in Digital Turbine in the second quarter valued at about $2,673,000. Trellus Management Company LLC raised its stake in Digital Turbine by 16.2% in the second quarter. Trellus Management Company LLC now owns 600,000 shares of the software maker’s stock valued at $618,000 after buying an additional 83,675 shares during the last quarter. Finally, White Pine Capital LLC raised its stake in Digital Turbine by 23.2% in the second quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock valued at $747,000 after buying an additional 136,800 shares during the last quarter. Institutional investors own 19.20% of the company’s stock.
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Digital Turbine Company Profile
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.
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