AIGH Capital Management LLC Takes Position in Digital Turbine, Inc. (NASDAQ:APPS)

AIGH Capital Management LLC bought a new stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 430,849 shares of the software maker's stock, valued at approximately $1,170,000. AIGH Capital Management LLC owned 0.41% of Digital Turbine at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pallas Capital Advisors LLC purchased a new position in Digital Turbine in the first quarter valued at $58,000. Cerity Partners LLC purchased a new stake in Digital Turbine during the 1st quarter worth about $70,000. ProShare Advisors LLC lifted its holdings in Digital Turbine by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock worth $46,000 after buying an additional 8,892 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Digital Turbine by 94.3% during the 4th quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock worth $46,000 after buying an additional 13,317 shares during the last quarter. Finally, HBK Sorce Advisory LLC purchased a new stake in Digital Turbine during the 1st quarter worth about $78,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Stock Performance

Shares of Digital Turbine stock traded down $0.04 on Wednesday, hitting $5.35. The stock had a trading volume of 1,746,800 shares, compared to its average volume of 5,182,819. Digital Turbine, Inc. has a 52-week low of $1.18 and a 52-week high of $7.77. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.66. The stock has a market cap of $577.59 million, a price-to-earnings ratio of -6.01 and a beta of 2.57. The company's 50 day moving average price is $5.23 and its 200 day moving average price is $3.91.

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

Analyst Ratings Changes

APPS has been the subject of a number of recent analyst reports. Wall Street Zen raised Digital Turbine from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Craig Hallum lifted their price target on Digital Turbine from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th.

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.