Digital Turbine (NASDAQ:APPS) Trading 9.2% Higher - Here's What Happened

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report)'s share price shot up 9.2% during trading on Monday . The stock traded as high as $5.16 and last traded at $5.35. 6,360,924 shares were traded during mid-day trading, a decline of 26% from the average session volume of 8,612,731 shares. The stock had previously closed at $4.90.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APPS. Craig Hallum decreased their target price on Digital Turbine from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Macquarie cut their price objective on Digital Turbine from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. StockNews.com upgraded Digital Turbine from a "sell" rating to a "hold" rating in a report on Wednesday. Finally, Bank of America lowered Digital Turbine from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $3.50 to $1.00 in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $2.38.

Digital Turbine Trading Down 5.1 %

The company has a fifty day simple moving average of $2.46 and a two-hundred day simple moving average of $2.60. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.09. The company has a market capitalization of $649.99 million, a P/E ratio of -2.04 and a beta of 2.38.

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

Hedge Funds Weigh In On Digital Turbine

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in Digital Turbine by 104.1% during the third quarter. Blue Trust Inc. now owns 8,169 shares of the software maker's stock valued at $25,000 after buying an additional 4,167 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Digital Turbine in the fourth quarter valued at about $28,000. Plancorp LLC acquired a new stake in shares of Digital Turbine in the fourth quarter valued at about $35,000. Ballentine Partners LLC acquired a new stake in shares of Digital Turbine in the third quarter valued at about $43,000. Finally, Ieq Capital LLC acquired a new stake in shares of Digital Turbine in the fourth quarter valued at about $55,000. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Company Profile

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.