Digital Turbine (NASDAQ:APPS) Shares Down 8.9% – Should You Sell?

Shares of Digital Turbine, Inc. (NASDAQ:APPS) were down 8.9% during mid-day trading on Tuesday . The company traded as low as $5.70 and last traded at $5.64. 2,220,201 shares were traded during mid-day trading, a decline of 75% from the average session volume of 8,859,835 shares. The stock had previously closed at $6.19.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on APPS shares. StockNews.com upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Craig Hallum decreased their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Bank of America downgraded shares of Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Macquarie cut their target price on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Digital Turbine presently has an average rating of “Hold” and a consensus price target of $2.38.

Digital Turbine Stock Performance

The company has a market cap of $503.00 million, a P/E ratio of -1.58 and a beta of 2.38. The business has a 50 day moving average price of $2.76 and a two-hundred day moving average price of $2.69. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.06 and a current ratio of 1.06.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. On average, sell-side analysts anticipate that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Institutional Trading of Digital Turbine

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its position in Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after purchasing an additional 4,167 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Digital Turbine during the fourth quarter valued at approximately $28,000. Plancorp LLC bought a new position in shares of Digital Turbine during the fourth quarter valued at approximately $35,000. Ballentine Partners LLC bought a new position in shares of Digital Turbine during the third quarter valued at approximately $43,000. Finally, Cetera Investment Advisers lifted its stake in Digital Turbine by 94.3% in 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. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Company Profile

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.