Digital Turbine (NASDAQ:APPS) Trading Up 9.3% – Here’s Why
by Jessica Moore · The Cerbat GemShares of Digital Turbine, Inc. (NASDAQ:APPS – Get Free Report) were up 9.3% on Tuesday . The stock traded as high as $4.39 and last traded at $4.4250. Approximately 2,490,182 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 2,599,421 shares. The stock had previously closed at $4.05.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on APPS shares. Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a research report on Friday, March 27th. Finally, Zacks Research cut shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Digital Turbine currently has a consensus rating of “Hold” and a consensus target price of $7.75.
Get Our Latest Stock Report on Digital Turbine
Digital Turbine Stock Up 5.1%
The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.10 and a current ratio of 1.10. The firm’s 50-day moving average is $3.47 and its two-hundred day moving average is $4.44. The stock has a market cap of $510.17 million, a P/E ratio of -8.89, a PEG ratio of 0.16 and a beta of 2.40.
Institutional Trading of Digital Turbine
Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its position in shares of Digital Turbine by 17.4% during the 1st quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock valued at $10,423,000 after acquiring an additional 535,169 shares during the last quarter. Granahan Investment Management LLC raised its position in shares of Digital Turbine by 12.0% during the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock valued at $20,484,000 after acquiring an additional 762,888 shares during the last quarter. GC Wealth Management RIA LLC raised its position in shares of Digital Turbine by 41.9% during the 1st quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker’s stock valued at $1,660,000 after acquiring an additional 170,134 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Digital Turbine during the 1st quarter valued at $77,000. Finally, Globeflex Capital L P bought a new stake in shares of Digital Turbine during the 1st quarter valued at $1,227,000. Institutional investors own 63.66% of the company’s stock.
Digital Turbine Company Profile
Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.
The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.