Digital Turbine (NASDAQ:APPS) Stock Price Down 4.7% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS)’s share price fell 4.7% on Wednesday . The company traded as low as $6.98 and last traded at $7.19. 9,008,140 shares were traded during trading, an increase of 88% from the average session volume of 4,789,803 shares. The stock had previously closed at $7.54.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APPS. Wall Street Zen lowered Digital Turbine from a “hold” rating to a “sell” rating in a research report on Monday, March 24th. Craig Hallum raised their price objective on Digital Turbine from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday.

Digital Turbine Trading Down 10.6%

The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.06 and a current ratio of 1.09. The stock’s fifty day moving average is $4.19 and its 200 day moving average is $3.28. The stock has a market cap of $721.05 million, a P/E ratio of -7.57 and a beta of 2.58.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Digital Turbine had a negative net margin of 18.61% and a positive return on equity of 1.89%. The firm had revenue of $119.15 million during the quarter, compared to the consensus estimate of $116.64 million. During the same quarter last year, the firm earned $0.12 EPS. As a group, equities research analysts predict that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Digital Turbine

Several institutional investors have recently added to or reduced their stakes in APPS. SBI Securities Co. Ltd. bought a new stake in Digital Turbine in the fourth quarter worth about $28,000. Plancorp LLC bought a new stake in Digital Turbine in the fourth quarter worth about $35,000. Strs Ohio bought a new stake in Digital Turbine in the first quarter worth about $41,000. Caitong International Asset Management Co. Ltd bought a new stake in Digital Turbine in the first quarter worth about $45,000. Finally, Cetera Investment Advisers increased its position in shares of Digital Turbine by 94.3% during the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker’s stock worth $46,000 after acquiring an additional 13,317 shares during the period. Institutional investors 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.