Shares of Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) dropped 5.4% during trading on Monday . The company traded as low as $5.27 and last traded at $5.31. Approximately 1,652,705 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 4,398,143 shares. The stock had previously closed at $5.61.
Analysts Set New Price Targets
Separately, Wall Street Zen cut shares of Digital Turbine from a "hold" rating to a "sell" rating in a research note on Monday, March 24th.
Check Out Our Latest Research Report on Digital Turbine
Digital Turbine Trading Down 4.0%
The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $522.93 million, a PE ratio of -1.64 and a beta of 2.58. The stock's 50 day simple moving average is $3.84 and its 200 day simple moving average is $3.12.
Institutional Investors Weigh In On Digital Turbine
A number of hedge funds have recently made changes to their positions in APPS. Marshall Wace LLP bought a new stake in shares of Digital Turbine in the 4th quarter worth approximately $1,698,000. Segall Bryant & Hamill LLC bought a new stake in shares of Digital Turbine in the 1st quarter worth approximately $2,710,000. Vanguard Group Inc. lifted its holdings in shares of Digital Turbine by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock worth $24,080,000 after acquiring an additional 893,035 shares during the last quarter. Greenhaven Road Investment Management L.P. lifted its holdings in shares of Digital Turbine by 467.1% in the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,025,951 shares of the software maker's stock worth $2,785,000 after acquiring an additional 845,051 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Digital Turbine by 29,604.4% in the 1st quarter. Russell Investments Group Ltd. now owns 821,327 shares of the software maker's stock worth $2,230,000 after acquiring an additional 818,562 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.
About Digital Turbine
(
Get Free Report)
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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