Digital Turbine Target of Unusually Large Options Trading (NASDAQ:APPS)

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 33,149 call options on the stock. This represents an increase of 609% compared to the typical daily volume of 4,673 call options.

Digital Turbine Stock Performance

Shares of APPS stock traded up $2.64 during trading hours on Tuesday, reaching $7.45. 52,594,108 shares of the company's stock were exchanged, compared to its average volume of 5,741,980. The business has a fifty day moving average price of $3.94 and a 200-day moving average price of $3.19. The stock has a market capitalization of $782.41 million, a P/E ratio of -2.45 and a beta of 2.58. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. Digital Turbine has a fifty-two week low of $1.18 and a fifty-two week high of $7.63.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings data on Monday, June 16th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.05. The company had revenue of $119.15 million during the quarter, compared to analysts' expectations of $116.64 million. Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. During the same quarter in the prior year, the company posted $0.12 EPS. Analysts predict that Digital Turbine will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in APPS. Strs Ohio bought a new position in shares of Digital Turbine during the first quarter worth $41,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Digital Turbine during the 1st quarter valued at about $45,000. SBI Securities Co. Ltd. acquired a new position in shares of Digital Turbine in the 4th quarter valued at approximately $28,000. Thompson Davis & CO. Inc. bought a new stake in Digital Turbine during the 1st quarter worth approximately $47,000. Finally, Hsbc Holdings PLC acquired a new stake in Digital Turbine during the 1st quarter worth approximately $51,000. Institutional investors and hedge funds own 63.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on APPS shares. Craig Hallum raised their price target on shares of Digital Turbine from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Tuesday. Wall Street Zen downgraded Digital Turbine from a "hold" rating to a "sell" rating in a research note on Monday, March 24th.

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.

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