Digital Turbine (NASDAQ:APPS) Shares Gap Up – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $4.17, but opened at $4.36. Digital Turbine shares last traded at $4.4050, with a volume of 815,068 shares traded.

Analyst Ratings Changes

APPS has been the topic of a number of recent analyst reports. Wall Street Zen raised Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research lowered Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.75.

Digital Turbine Stock Performance

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $513.65 million, a PE ratio of -8.89, a PEG ratio of 0.16 and a beta of 2.40. The firm’s 50-day simple moving average is $3.47 and its two-hundred day simple moving average is $4.42.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPS. Quarry LP grew its position in Digital Turbine by 1,323.4% during the 4th quarter. Quarry LP now owns 5,594 shares of the software maker’s stock worth $28,000 after purchasing an additional 5,201 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Digital Turbine during the 3rd quarter valued at $31,000. Strs Ohio purchased a new position in shares of Digital Turbine during the 1st quarter valued at $41,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Digital Turbine during the 4th quarter valued at $44,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Digital Turbine during the 1st quarter valued at $44,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

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.