Digital Turbine (APPS) Stock Price Up 8.6%

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Digital Turbine Inc (NASDAQ:APPS) rose 8.6% during trading on Wednesday . The stock traded as high as $1.63 and last traded at $1.65. Approximately 11,749 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 207,561 shares. The stock had previously closed at $1.52.

Several equities research analysts have issued reports on APPS shares. Zacks Investment Research downgraded Digital Turbine from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. National Securities reaffirmed a “buy” rating and set a $3.50 price target on shares of Digital Turbine in a report on Monday, August 13th. Finally, ValuEngine downgraded Digital Turbine from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Digital Turbine presently has an average rating of “Buy” and an average target price of $2.77.

The firm has a market cap of $103.69 million, a PE ratio of -18.33 and a beta of 1.05. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.80 and a quick ratio of 0.80.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Thursday, August 9th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Digital Turbine had a negative return on equity of 16.50% and a negative net margin of 44.22%. The business had revenue of $22.11 million during the quarter, compared to the consensus estimate of $22.98 million. Equities research analysts predict that Digital Turbine Inc will post -0.04 earnings per share for the current year.

In other Digital Turbine news, Director Robert M. Deutschman purchased 25,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was acquired at an average price of $1.27 per share, with a total value of $31,750.00. Following the acquisition, the director now directly owns 292,550 shares of the company’s stock, valued at approximately $371,538.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roy H. Chestnutt purchased 20,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were acquired at an average cost of $1.32 per share, with a total value of $26,400.00. Following the acquisition, the director now directly owns 66,763 shares in the company, valued at $88,127.16. The disclosure for this purchase can be found here. Company insiders own 6.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Granahan Investment Management Inc. MA lifted its holdings in shares of Digital Turbine by 143.8% during the second quarter. Granahan Investment Management Inc. MA now owns 1,400,126 shares of the software maker’s stock worth $2,114,000 after buying an additional 825,915 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Digital Turbine during the second quarter worth $642,000. Barclays PLC acquired a new stake in shares of Digital Turbine during the first quarter worth $162,000. United Services Automobile Association lifted its holdings in shares of Digital Turbine by 143.8% during the second quarter. United Services Automobile Association now owns 1,382,947 shares of the software maker’s stock worth $2,088,000 after buying an additional 815,677 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Digital Turbine by 397.9% during the first quarter. Millennium Management LLC now owns 1,549,547 shares of the software maker’s stock worth $3,115,000 after buying an additional 1,238,351 shares in the last quarter. 26.45% of the stock is owned by institutional investors and hedge funds.

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About Digital Turbine (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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