Digital Turbine (NASDAQ:APPS) Stock Price Down 7.3% – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS) dropped 7.3% during trading on Thursday . The stock traded as low as $9.15 and last traded at $9.0210. Approximately 176,056 shares traded hands during trading, a decline of 96% from the average session volume of 4,158,478 shares. The stock had previously closed at $9.73.

Wall Street Analyst Weigh In

A number of analysts recently commented on APPS shares. 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 research note on Wednesday, May 27th. Wall Street Zen raised Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings downgraded Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Digital Turbine presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Digital Turbine Trading Down 9.7%

The company has a debt-to-equity ratio of 1.84, a current ratio of 1.16 and a quick ratio of 1.16. The firm’s 50 day moving average price is $8.41 and its 200 day moving average price is $5.62. The stock has a market capitalization of $1.06 billion, a P/E ratio of -24.40, a P/E/G ratio of 0.76 and a beta of 2.75.

Digital Turbine (NASDAQ:APPS) last posted 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. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%.The company had revenue of $142.55 million for the quarter, compared to analysts’ expectations of $133.22 million. As a group, equities research analysts expect that Digital Turbine, Inc. will post 0.68 earnings per share for the current fiscal year.

Institutional Trading of Digital Turbine

Several large investors have recently bought and sold shares of the company. AIGH Capital Management LLC purchased a new position in shares of Digital Turbine during the first quarter valued at approximately $14,100,000. Invesco Ltd. raised its stake in Digital Turbine by 369.0% during the fourth quarter. Invesco Ltd. now owns 1,829,003 shares of the software maker’s stock valued at $9,145,000 after buying an additional 1,438,986 shares during the last quarter. Manatuck Hill Partners LLC raised its stake in Digital Turbine by 233.3% during the fourth quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock valued at $10,000,000 after buying an additional 1,400,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Digital Turbine by 56.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock worth $6,778,000 after acquiring an additional 846,116 shares in the last quarter. Finally, Granahan Investment Management LLC boosted its holdings in Digital Turbine by 12.0% in the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after acquiring an additional 762,888 shares in the last quarter. 63.66% of the stock is 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.