Digital Turbine (NASDAQ:APPS) Stock Price Down 7.1% – Time to Sell?

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings cut Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 28th. 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 research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.75.

Digital Turbine Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84. The stock’s 50-day simple moving average is $7.32 and its two-hundred day simple moving average is $5.33. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -32.60, a PEG ratio of 0.98 and a beta of 2.75.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.07. The business had revenue of $142.55 million for the quarter, compared to analyst estimates of $133.22 million. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. Equities research analysts predict that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.

Hedge Funds Weigh In On Digital Turbine

A number of hedge funds have recently made changes to their positions in APPS. AIGH Capital Management LLC purchased a new position in shares of Digital Turbine in the first quarter valued at approximately $14,100,000. Granahan Investment Management LLC raised its stake in 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 valued at $36,569,000 after purchasing an additional 2,489,376 shares during the last quarter. Invesco Ltd. lifted its holdings in Digital Turbine by 369.0% in the 4th quarter. Invesco Ltd. now owns 1,829,003 shares of the software maker’s stock valued at $9,145,000 after purchasing an additional 1,438,986 shares in the last quarter. Manatuck Hill Partners LLC lifted its holdings in Digital Turbine by 233.3% in the 4th quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock valued at $10,000,000 after purchasing an additional 1,400,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Digital Turbine by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock worth $6,778,000 after purchasing an additional 846,116 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.