Digital Turbine (NASDAQ:APPS) Shares Gap Down - Time to Sell?

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $4.99, but opened at $4.64. Digital Turbine shares last traded at $5.05, with a volume of 9,242,582 shares changing hands.

Analyst Ratings Changes

APPS has been the subject of several research reports. Bank of America downgraded Digital Turbine from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. Macquarie cut their target price on shares of Digital Turbine from $3.00 to $2.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Finally, Craig Hallum lowered their price target on Digital Turbine from $5.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Digital Turbine has a consensus rating of "Hold" and an average target price of $2.38.

Digital Turbine Stock Down 1.2 %

The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.09 and a current ratio of 1.06. The firm has a market cap of $558.02 million, a PE ratio of -1.76 and a beta of 2.38. The stock has a fifty day moving average price of $2.09 and a 200-day moving average price of $2.50.

Digital Turbine (NASDAQ:APPS - Get Free Report) last issued its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. Research analysts expect that Digital Turbine, Inc. will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Digital Turbine by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker's stock worth $7,169,000 after acquiring an additional 181,032 shares during the period. Rice Hall James & Associates LLC raised its position in shares of Digital Turbine by 4.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker's stock valued at $6,051,000 after purchasing an additional 77,185 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Digital Turbine by 14.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 886,508 shares of the software maker's stock valued at $1,498,000 after purchasing an additional 110,427 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in shares of Digital Turbine by 22.1% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 532,325 shares of the software maker's stock valued at $899,000 after purchasing an additional 96,393 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Digital Turbine by 719.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker's stock valued at $1,191,000 after purchasing an additional 340,512 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company's stock.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.