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.
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.
TRADEMARK VIOLATION WARNING: “Digital Turbine (APPS) Trading Up 7.4%” was published by Ticker Report and is the property of of Ticker Report. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://www.tickerreport.com/banking-finance/4146646/digital-turbine-apps-trading-up-7-4.html.
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.
Recommended Story: Balance Sheet
Receive News & Ratings for Digital Turbine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digital Turbine and related companies with MarketBeat.com's FREE daily email newsletter.