Digital Turbine (NASDAQ:APPS) Stock Price Down 7.2% – Time to Sell?

Digital Turbine, Inc. (NASDAQ:APPS) traded down 7.2% during mid-day trading on Tuesday. The stock traded as low as $10.44 and last traded at $10.4050. Approximately 2,004,809 shares were traded during trading, a decline of 49% from the average session volume of 3,916,871 shares. The stock had previously closed at $11.21.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APPS. TD Cowen reiterated a “hold” rating on shares of Digital Turbine in a report on Tuesday, September 29th. Roth Capital reaffirmed a “buy” rating and set a $17.50 price target on shares of Digital Turbine in a research report on Thursday, August 6th. Zacks Research downgraded shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Craig Hallum reissued a “buy” rating and issued a $18.00 price objective on shares of Digital Turbine in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.80.

Digital Turbine Stock Down 7.0%

The firm has a 50-day moving average of $11.20 and a two-hundred day moving average of $8.17. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -40.15, a price-to-earnings-growth ratio of 0.48 and a beta of 3.02.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. The business had revenue of $165.98 million during the quarter, compared to analyst estimates of $149.98 million. As a group, sell-side analysts anticipate that Digital Turbine, Inc. will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APPS. Dimensional Fund Advisors LP lifted its position in Digital Turbine by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock valued at $6,778,000 after purchasing an additional 846,116 shares during the period. Granahan Investment Management LLC grew its position in shares of Digital Turbine by 12.0% in the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock valued at $20,484,000 after acquiring an additional 762,888 shares during the period. GC Wealth Management RIA LLC increased its stake in shares of Digital Turbine by 41.9% during the first quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker’s stock worth $1,660,000 after purchasing an additional 170,134 shares during the period. Globeflex Capital L P acquired a new position in Digital Turbine in the 1st quarter valued at $1,227,000. Finally, AIGH Capital Management LLC bought a new position in shares of Digital Turbine in the first quarter worth about $14,100,000. 63.66% of the stock is owned by institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc is a mobile advertising and application-growth company that helps advertisers, app developers, wireless carriers and device manufacturers connect with mobile users. Its platform supports the distribution, promotion and monetization of applications across smartphones and other connected devices.

The company’s products and services include on-device app discovery and recommendation tools, app-install solutions, mobile advertising formats, audience-targeting capabilities and programmatic advertising technology.