Digital Turbine (NASDAQ:APPS) Trading Down 4.8% – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS) shares dropped 4.8% during mid-day trading on Friday . The stock traded as low as $5.25 and last traded at $5.2050. Approximately 1,599,582 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 4,936,914 shares. The stock had previously closed at $5.47.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a report on Monday, December 15th. Zacks Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Craig Hallum restated a “buy” rating and issued a $10.00 price objective on shares of Digital Turbine in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Digital Turbine Stock Down 3.8%

The firm has a 50 day moving average price of $5.56 and a 200-day moving average price of $5.34. The firm has a market cap of $589.91 million, a price-to-earnings ratio of -7.21, a price-to-earnings-growth ratio of 1.55 and a beta of 2.30. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.10 and a quick ratio of 1.10.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Digital Turbine had a positive return on equity of 12.12% and a negative net margin of 14.59%.The firm had revenue of $140.38 million during the quarter, compared to analyst estimates of $142.00 million. As a group, equities analysts predict that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Several large investors have recently bought and sold shares of APPS. Vanguard Group Inc. grew its holdings in Digital Turbine by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,072,239 shares of the software maker’s stock worth $58,062,000 after acquiring an additional 33,944 shares during the period. Granahan Investment Management LLC boosted its position in shares of Digital Turbine by 77.2% in the 3rd quarter. Granahan Investment Management LLC now owns 5,713,937 shares of the software maker’s stock worth $36,569,000 after purchasing an additional 2,489,376 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Digital Turbine by 179.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,163,124 shares of the software maker’s stock worth $18,662,000 after purchasing an additional 2,033,216 shares during the period. Bank of America Corp DE increased its holdings in Digital Turbine by 20.6% in the third quarter. Bank of America Corp DE now owns 2,687,381 shares of the software maker’s stock valued at $17,199,000 after purchasing an additional 459,605 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Digital Turbine by 2.1% in the second quarter. Geode Capital Management LLC now owns 2,378,047 shares of the software maker’s stock valued at $14,033,000 after buying an additional 47,812 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

About Digital Turbine

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.