Digital Turbine (NASDAQ:APPS) Trading Up 9.3% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS)’s share price shot up 9.3% during trading on Tuesday . The stock traded as high as $4.39 and last traded at $4.4250. 2,490,182 shares traded hands during trading, a decline of 4% from the average session volume of 2,599,421 shares. The stock had previously closed at $4.05.

Wall Street Analysts Forecast Growth

APPS has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research cut shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.75.

Digital Turbine Stock Performance

The firm has a market cap of $510.17 million, a P/E ratio of -8.89, a PEG ratio of 0.16 and a beta of 2.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s 50-day moving average is $3.47 and its 200 day moving average is $4.44.

Hedge Funds Weigh In On Digital Turbine

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in Digital Turbine in the 3rd quarter worth $31,000. Quarry LP boosted its stake in Digital Turbine by 1,323.4% in 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 during the period. Caitong International Asset Management Co. Ltd acquired a new position in Digital Turbine in the 4th quarter worth $44,000. Smartleaf Asset Management LLC acquired a new position in Digital Turbine in the 2nd quarter worth $57,000. Finally, PFG Investments LLC acquired a new position in Digital Turbine in the 4th quarter worth $50,000. 63.66% of the stock is owned by institutional investors and hedge funds.

About Digital Turbine

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.