Digital Turbine (NASDAQ:APPS) Trading Down 7.6% – Time to Sell?

Shares of Digital Turbine, Inc. (NASDAQ:APPS) fell 7.6% during mid-day trading on Wednesday . The company traded as low as $8.64 and last traded at $8.4830. 1,427,680 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 4,127,162 shares. The stock had previously closed at $9.18.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings lowered Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Benchmark began coverage on shares of Digital Turbine in a research report on Tuesday. They set a “buy” rating and a $15.00 price objective for the company. Zacks Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 28th. Roth Capital began coverage on shares of Digital Turbine in a report on Tuesday. They set a “buy” rating and a $11.50 target price for the company. Finally, Bank of America raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target on the stock in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Digital Turbine has an average rating of “Buy” and a consensus price target of $11.00.

Digital Turbine Price Performance

The firm has a market capitalization of $971.12 million, a price-to-earnings ratio of -22.30, a P/E/G ratio of 0.66 and a beta of 2.75. The company’s 50 day moving average is $8.94 and its 200 day moving average is $5.76. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. The firm had revenue of $142.55 million during the quarter, compared to the consensus estimate of $133.22 million. On average, equities research analysts anticipate that Digital Turbine, Inc. will post 0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC acquired a new stake in shares of Digital Turbine in the 1st quarter valued at $14,100,000. Globeflex Capital L P acquired a new position in shares of Digital Turbine during the 1st quarter worth $1,227,000. UBS Group AG raised its holdings in shares of Digital Turbine by 444.0% during the 4th quarter. UBS Group AG now owns 779,585 shares of the software maker’s stock worth $3,898,000 after buying an additional 636,267 shares in the last quarter. S Squared Technology LLC lifted its position in shares of Digital Turbine by 13.0% during the 4th quarter. S Squared Technology LLC now owns 653,571 shares of the software maker’s stock worth $3,268,000 after buying an additional 75,000 shares during the last quarter. Finally, Manatuck Hill Partners LLC lifted its position in shares of Digital Turbine by 233.3% during the 4th quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock worth $10,000,000 after buying an additional 1,400,000 shares during the last quarter. 63.66% of the stock is 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.