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

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

Analyst Upgrades and Downgrades

APPS has been the topic of a number of recent analyst reports. Bank of America upgraded 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. Weiss Ratings cut shares of Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Zacks Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Digital Turbine Stock Down 6.1%

The company’s 50 day moving average price is $5.25 and its two-hundred day moving average price is $4.75. The firm has a market cap of $1.11 billion, a PE ratio of -25.68, a PEG ratio of 0.76 and a beta of 2.84. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.84.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.07. The company had revenue of $142.55 million during the quarter, compared to analyst estimates 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, equities research analysts expect that Digital Turbine, Inc. will post 0.68 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP increased its holdings in Digital Turbine by 1,323.4% in the 4th 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 during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Digital Turbine in the fourth quarter valued at $44,000. Essential Partners LLC grew its holdings in shares of 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 purchasing an additional 5,652 shares in the last quarter. Smartleaf Asset Management LLC purchased a new position in shares of Digital Turbine in the second quarter valued at $57,000. Finally, PFG Investments LLC purchased a new position in shares of Digital Turbine in the fourth quarter valued at $50,000. 63.66% of the stock is currently owned by 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.