Digital Turbine Sees Unusually Large Options Volume (NASDAQ:APPS)

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) saw unusually large options trading on Thursday. Traders acquired 6,084 call options on the stock. This is an increase of 182% compared to the average daily volume of 2,157 call options.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors and hedge funds have recently modified their holdings of APPS. Geode Capital Management LLC boosted its holdings in shares of Digital Turbine by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker's stock worth $7,169,000 after buying an additional 181,032 shares during the period. Rice Hall James & Associates LLC lifted its position in Digital Turbine by 4.1% during the third quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker's stock worth $6,051,000 after acquiring an additional 77,185 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Digital Turbine by 97.1% during the second quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker's stock worth $2,546,000 after acquiring an additional 755,707 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Digital Turbine by 14.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 886,508 shares of the software maker's stock worth $1,498,000 after acquiring an additional 110,427 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its position in shares of Digital Turbine by 22.1% in the fourth 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 during the last quarter. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Digital Turbine Stock Performance

APPS stock traded up $0.48 during trading hours on Monday, reaching $5.38. The stock had a trading volume of 15,544,271 shares, compared to its average volume of 8,972,165. The stock has a 50-day simple moving average of $2.01 and a 200 day simple moving average of $2.48. Digital Turbine has a fifty-two week low of $1.18 and a fifty-two week high of $5.50. The stock has a market capitalization of $564.94 million, a PE ratio of -1.78 and a beta of 2.38. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.09.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 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%. Analysts predict that Digital Turbine will post -0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.