Digital Turbine (NASDAQ:APPS) Stock Price Down 4.7% - Time to Sell?

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report)'s share price dropped 4.7% during trading on Wednesday . The company traded as low as $6.98 and last traded at $7.19. Approximately 9,008,140 shares traded hands during trading, an increase of 88% from the average daily volume of 4,789,803 shares. The stock had previously closed at $7.54.

Analyst Ratings Changes

APPS has been the subject of a number of research reports. Wall Street Zen raised Digital Turbine from a "hold" rating to a "buy" rating in a report on Saturday. Craig Hallum lifted their target price on Digital Turbine from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Tuesday.

Digital Turbine Stock Performance

The business's 50-day simple moving average is $4.26 and its two-hundred day simple moving average is $3.32. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 2.66. The firm has a market cap of $616.20 million, a price-to-earnings ratio of -6.47 and a beta of 2.58.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. The company had revenue of $119.15 million during the quarter, compared to analysts' expectations of $116.64 million. During the same quarter in the prior year, the firm posted $0.12 EPS. As a group, sell-side analysts expect that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently added to or reduced their stakes in APPS. Fuller & Thaler Asset Management Inc. purchased a new stake in Digital Turbine in the 4th quarter worth $490,000. Bank of America Corp DE increased its holdings in Digital Turbine by 55.6% in the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock worth $3,427,000 after acquiring an additional 724,297 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Digital Turbine by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker's stock worth $916,000 after acquiring an additional 153,991 shares in the last quarter. Marshall Wace LLP purchased a new stake in Digital Turbine in the 4th quarter worth $1,698,000. Finally, Perkins Capital Management Inc. increased its holdings in Digital Turbine by 79.3% in the 4th quarter. Perkins Capital Management Inc. now owns 387,600 shares of the software maker's stock worth $655,000 after acquiring an additional 171,400 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company's stock.

About Digital Turbine

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.