Digital Turbine (APPS) Trading Up 7.4%

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Shares of Digital Turbine Inc (NASDAQ:APPS) were up 7.4% during mid-day trading on Tuesday . The company traded as high as $2.78 and last traded at $2.90. Approximately 125,549 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 840,100 shares. The stock had previously closed at $2.70.

A number of research firms have recently weighed in on APPS. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a report on Monday, February 4th. TheStreet upgraded shares of Digital Turbine from a “d” rating to a “c” rating in a report on Tuesday, November 6th. National Securities set a $4.00 target price on shares of Digital Turbine and gave the stock a “buy” rating in a report on Tuesday, November 6th. Finally, ValuEngine upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a report on Friday, January 4th.

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $199.57 million, a price-to-earnings ratio of -32.33 and a beta of 1.68.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Tuesday, February 5th. The software maker reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Digital Turbine had a negative net margin of 38.60% and a positive return on equity of 1.62%. The firm had revenue of $30.41 million for the quarter, compared to the consensus estimate of $28.95 million. As a group, equities analysts forecast that Digital Turbine Inc will post 0.05 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in APPS. Bank of New York Mellon Corp raised its position in shares of Digital Turbine by 66.1% during the fourth quarter. Bank of New York Mellon Corp now owns 45,474 shares of the software maker’s stock worth $83,000 after purchasing an additional 18,102 shares during the period. BlackRock Inc. grew its holdings in shares of Digital Turbine by 5.1% during the fourth quarter. BlackRock Inc. now owns 349,869 shares of the software maker’s stock worth $640,000 after buying an additional 16,845 shares in the last quarter. Lindbrook Capital LLC bought a new position in shares of Digital Turbine during the fourth quarter worth about $241,000. Bailard Inc. bought a new position in Digital Turbine in the fourth quarter valued at approximately $210,000. Finally, B. Riley Financial Inc. grew its stake in Digital Turbine by 506.9% in the third quarter. B. Riley Financial Inc. now owns 65,850 shares of the software maker’s stock valued at $82,000 after purchasing an additional 55,000 shares in the last quarter. 21.96% of the stock is owned by hedge funds and other institutional investors.

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About Digital Turbine (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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