Digital Turbine (NASDAQ:APPS) Trading Down 6.6% – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS) shares traded down 6.6% during mid-day trading on Tuesday . The stock traded as low as $9.24 and last traded at $9.1810. 1,926,235 shares were traded during mid-day trading, a decline of 52% from the average session volume of 4,031,519 shares. The stock had previously closed at $9.83.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 28th. Bank of America raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective on the stock in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings cut shares of Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Digital Turbine has a consensus rating of “Moderate Buy” and an average price target of $8.75.

Digital Turbine Stock Performance

The stock’s 50 day moving average price is $5.49 and its 200 day moving average price is $4.81. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.84. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -23.94, a P/E/G ratio of 0.73 and a beta of 2.85.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Tuesday, May 26th. The software maker reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. The company had revenue of $142.55 million during the quarter, compared to the consensus estimate of $133.23 million. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. On average, analysts expect that Digital Turbine, Inc. will post 0.68 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

Several large investors have recently bought and sold shares of APPS. Essential Partners LLC grew its position in Digital Turbine by 167.3% in the first quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after acquiring an additional 5,652 shares in the last quarter. Quarry LP grew its position in Digital Turbine by 1,323.4% in the fourth quarter. Quarry LP now owns 5,594 shares of the software maker’s stock valued at $28,000 after acquiring an additional 5,201 shares in the last quarter. Verus Capital Partners LLC acquired a new stake in Digital Turbine in the first quarter valued at approximately $35,000. Strs Ohio acquired a new stake in Digital Turbine in the first quarter valued at approximately $41,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Digital Turbine in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.