Digital Turbine (NASDAQ:APPS) Shares Down 14.1% – Time to Sell?

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price fell 14.1% during mid-day trading on Thursday . The stock traded as low as $6.32 and last traded at $6.2650. 3,602,249 shares were traded during mid-day trading, a decline of 31% from the average session volume of 5,222,263 shares. The stock had previously closed at $7.29.

Analyst Ratings Changes

Several research firms have issued reports on APPS. Wall Street Zen lowered Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Bank of America upgraded Digital Turbine from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $4.50 to $5.50 in a research note on Wednesday, August 6th. Craig Hallum reiterated a “buy” rating and set a $10.00 target price on shares of Digital Turbine in a research note on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Digital Turbine in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.83.

Digital Turbine Stock Performance

The stock has a fifty day simple moving average of $5.76 and a two-hundred day simple moving average of $5.10. The stock has a market cap of $713.54 million, a price-to-earnings ratio of -8.71, a P/E/G ratio of 3.78 and a beta of 2.55. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.09 and a current ratio of 1.09.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The business had revenue of $130.93 million during the quarter, compared to analyst estimates of $121.94 million. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 11.95%. Analysts expect that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Digital Turbine during the 3rd quarter valued at $31,000. Strs Ohio acquired a new stake in shares of Digital Turbine during the 1st quarter valued at $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Digital Turbine during the 1st quarter valued at $45,000. Thompson Davis & CO. Inc. acquired a new stake in shares of Digital Turbine during the 1st quarter valued at $47,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Digital Turbine during the 1st quarter valued at $51,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.