Digital Turbine (NASDAQ:APPS) Shares Cross Above 50 Day Moving Average – Should You Sell?

Digital Turbine, Inc. (NASDAQ:APPS) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.71 and traded as high as $1.84. Digital Turbine shares last traded at $1.81, with a volume of 2,423,913 shares trading hands.

Analyst Upgrades and Downgrades

APPS has been the subject of a number of recent research reports. Craig Hallum decreased their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Bank of America cut shares of Digital Turbine from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. Finally, Macquarie decreased their price target on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Stock Down 2.2 %

The company has a market capitalization of $187.74 million, a P/E ratio of -0.61 and a beta of 2.34. The firm’s 50 day moving average price is $1.71 and its two-hundred day moving average price is $2.39. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $118.70 million during the quarter, compared to analyst estimates of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. Equities research analysts forecast that Digital Turbine, Inc. will post -0.13 EPS for the current year.

Insider Activity

In related news, Director Robert M. Deutschman acquired 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $1.41 per share, with a total value of $141,000.00. Following the acquisition, the director now owns 571,216 shares in the company, valued at $805,414.56. This represents a 21.22 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders purchased 127,000 shares of company stock valued at $175,610. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Digital Turbine

Several hedge funds have recently added to or reduced their stakes in APPS. AQR Capital Management LLC lifted its holdings in Digital Turbine by 97.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock valued at $2,546,000 after purchasing an additional 755,707 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Digital Turbine during the 2nd quarter valued at $594,000. JPMorgan Chase & Co. lifted its holdings in Digital Turbine by 719.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock valued at $1,191,000 after purchasing an additional 340,512 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Digital Turbine by 8.4% during the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after buying an additional 181,032 shares in the last quarter. Finally, Lindbrook Capital LLC acquired a new stake in shares of Digital Turbine during the third quarter worth $405,000. 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.