Digital Turbine (NASDAQ:APPS) Stock Price Up 9.3% - Time to Buy?

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

Analyst Ratings Changes

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

Digital Turbine Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. The firm has a fifty day moving average of $3.63 and a 200-day moving average of $3.02. The stock has a market capitalization of $589.09 million, a price-to-earnings ratio of -1.85 and a beta of 2.41.

Hedge Funds Weigh In On Digital Turbine

Hedge funds have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. purchased a new position in Digital Turbine during the fourth quarter worth $490,000. Acuitas Investments LLC purchased a new position in Digital Turbine during the fourth quarter worth $140,000. Bank of America Corp DE increased its position in 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 buying an additional 724,297 shares in the last quarter. JPMorgan Chase & Co. increased its position in Digital Turbine by 39.7% during the fourth quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker's stock worth $916,000 after buying an additional 153,991 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Digital Turbine in the fourth quarter valued at $1,698,000. Hedge funds and other institutional investors own 63.66% of the company's stock.

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.