Digital Turbine (NASDAQ:APPS) Shares Up 9.3% - Still a Buy?

Shares of Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) shot up 9.3% on Thursday . The company traded as high as $4.98 and last traded at $4.84. 1,948,526 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 4,338,547 shares. The stock had previously closed at $4.43.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Digital Turbine from a "hold" rating to a "sell" rating in a research note on Monday, March 24th.

Digital Turbine Stock Up 12.0%

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.50. The firm has a market cap of $589.09 million, a P/E ratio of -1.85 and a beta of 2.58. The firm's 50 day moving average is $3.63 and its two-hundred day moving average is $3.03.

Hedge Funds Weigh In On Digital Turbine

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Digital Turbine by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock worth $24,080,000 after buying an additional 893,035 shares during the period. Two Sigma Investments LP increased its holdings in shares of Digital Turbine by 19.1% in the fourth quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker's stock worth $3,559,000 after acquiring an additional 337,959 shares in the last quarter. Bank of America Corp DE raised its position in shares of Digital Turbine by 55.6% during the fourth quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock worth $3,427,000 after purchasing an additional 724,297 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Digital Turbine by 0.4% during the 4th quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker's stock valued at $2,775,000 after purchasing an additional 7,100 shares in the last quarter. Finally, Greenhaven Road Investment Management L.P. grew its position 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 valued at $2,785,000 after purchasing an additional 845,051 shares during the period. 63.66% of the stock is owned by institutional investors.

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.