Shares of Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) were down 8.9% during mid-day trading on Tuesday . The stock traded as low as $5.70 and last traded at $5.64. Approximately 2,220,201 shares changed hands during trading, a decline of 75% from the average daily volume of 8,859,835 shares. The stock had previously closed at $6.19.
Several equities analysts recently issued reports on the company. Macquarie reduced their price objective on Digital Turbine from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Craig Hallum reduced their price target on shares of Digital Turbine from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. StockNews.com raised shares of Digital Turbine from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Bank of America lowered shares of Digital Turbine from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. One 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. According to MarketBeat.com, Digital Turbine presently has an average rating of "Hold" and a consensus price target of $2.38.
Check Out Our Latest Research Report on APPS
The firm's fifty day moving average price is $2.55 and its 200-day moving average price is $2.64. The company has a market cap of $540.80 million, a price-to-earnings ratio of -1.70 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 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 negative net margin of 64.06% and a positive return on equity of 3.41%. On average, equities analysts expect that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in APPS. The Manufacturers Life Insurance Company boosted its position in Digital Turbine by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker's stock worth $68,000 after acquiring an additional 3,695 shares during the period. SG Americas Securities LLC raised its stake in shares of Digital Turbine by 80.9% during the third quarter. SG Americas Securities LLC now owns 50,053 shares of the software maker's stock valued at $154,000 after purchasing an additional 22,385 shares in the last quarter. Creative Planning acquired a new stake in Digital Turbine in the third quarter worth about $57,000. Blue Trust Inc. grew its position in Digital Turbine by 104.1% in the 3rd 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. Finally, Ballentine Partners LLC acquired a new position in Digital Turbine during the 3rd quarter valued at about $43,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.
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.
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