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

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 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 Ratings Changes

A number of research firms have recently commented on APPS. Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $3.50 to $1.00 in a research report on Friday, November 15th. Macquarie lowered their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Craig Hallum lowered 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 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 issued a buy rating to the company. Based on data from MarketBeat, Digital Turbine has an average rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Stock Performance

The company has a market capitalization of $187.74 million, a P/E ratio of -0.61 and a beta of 2.34. The stock has a fifty day simple moving average of $1.71 and a 200-day simple moving average of $2.39. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.24.

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

Insider Activity at Digital Turbine

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

Institutional Trading of Digital Turbine

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPS. Blue Trust Inc. raised its holdings in Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after purchasing an additional 4,167 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Digital Turbine during the 3rd quarter worth about $43,000. Creative Planning acquired a new position in shares of Digital Turbine during the 3rd quarter worth about $57,000. The Manufacturers Life Insurance Company grew its position in shares of Digital Turbine by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after buying an additional 3,695 shares during the period. Finally, Point72 DIFC Ltd grew its position in shares of Digital Turbine by 18.4% during the 2nd quarter. Point72 DIFC Ltd now owns 44,603 shares of the software maker’s stock worth $74,000 after buying an additional 6,936 shares during the period. 63.66% of the stock is owned by 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.