Digital Turbine (APPS) Trading 5.1% Higher
Shares of Digital Turbine Inc (NASDAQ:APPS) traded up 5.1% on Wednesday . The stock traded as high as $2.09 and last traded at $2.05. 1,545,925 shares changed hands during mid-day trading, an increase of 175% from the average session volume of 561,155 shares. The stock had previously closed at $1.95.
Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Roth Capital reiterated a “buy” rating on shares of Digital Turbine in a research note on Monday, December 4th. B. Riley reiterated a “buy” rating and issued a $2.00 price objective (up previously from $1.40) on shares of Digital Turbine in a research note on Wednesday, November 8th. Finally, ValuEngine lowered shares of Digital Turbine from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Digital Turbine currently has a consensus rating of “Buy” and a consensus price target of $1.75.
The firm has a market cap of $136.55, a P/E ratio of -6.83 and a beta of 1.36. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.19.
Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $27.90 million during the quarter, compared to analyst estimates of $26.96 million. Digital Turbine had a negative net margin of 20.41% and a negative return on equity of 23.85%. Digital Turbine’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) EPS. research analysts anticipate that Digital Turbine Inc will post -0.18 earnings per share for the current year.
In other Digital Turbine news, CEO William Gordon Stone III purchased 50,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was acquired at an average price of $1.56 per share, for a total transaction of $78,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Unterberg Capital LLC increased its stake in Digital Turbine by 237.5% during the 3rd quarter. Unterberg Capital LLC now owns 1,350,000 shares of the software maker’s stock valued at $2,039,000 after purchasing an additional 950,000 shares in the last quarter. Perkins Capital Management Inc. increased its stake in Digital Turbine by 5.5% during the 3rd quarter. Perkins Capital Management Inc. now owns 911,080 shares of the software maker’s stock valued at $1,376,000 after purchasing an additional 47,500 shares in the last quarter. P.A.W. Capital Corp increased its stake in Digital Turbine by 5.0% during the 3rd quarter. P.A.W. Capital Corp now owns 840,000 shares of the software maker’s stock valued at $1,268,000 after purchasing an additional 40,000 shares in the last quarter. Trellus Management Company LLC increased its stake in Digital Turbine by 16.8% during the 3rd quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock valued at $1,058,000 after purchasing an additional 100,689 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Digital Turbine during the 3rd quarter valued at $665,000. Institutional investors and hedge funds own 20.78% of the company’s stock.
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About Digital Turbine
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.
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