Digital Turbine, Inc. (APPS) Sets New 52-Week High at $1.63

Digital Turbine, Inc. (NASDAQ:APPS)’s share price reached a new 52-week high on Thursday . The company traded as high as $1.63 and last traded at $1.62, with a volume of 160,541 shares traded. The stock had previously closed at $1.60.

APPS has been the topic of a number of recent research reports. Zacks Investment Research raised Digital Turbine from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research note on Tuesday, July 4th. B. Riley reissued a “buy” rating and set a $1.40 price objective on shares of Digital Turbine in a research note on Sunday, June 18th. Ladenburg Thalmann Financial Services boosted their price objective on Digital Turbine from $1.25 to $2.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Roth Capital set a $1.00 price objective on Digital Turbine and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, ValuEngine upgraded Digital Turbine from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Digital Turbine currently has a consensus rating of “Buy” and a consensus price target of $1.43.

The firm’s market cap is $107.24 million. The company’s 50 day moving average price is $1.36 and its 200-day moving average price is $1.14.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Monday, August 7th. The software maker reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. Digital Turbine had a negative return on equity of 31.91% and a negative net margin of 22.54%. The business had revenue of $26.10 million for the quarter, compared to analysts’ expectations of $24.46 million. During the same quarter last year, the firm earned ($0.11) earnings per share. Analysts expect that Digital Turbine, Inc. will post ($0.11) EPS for the current fiscal year.

In other Digital Turbine news, CEO William Gordon Stone III acquired 126,400 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $1.12 per share, for a total transaction of $141,568.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.80% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of APPS. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of Digital Turbine during the first quarter worth $188,000. Trellus Management Company LLC boosted its holdings in shares of Digital Turbine by 16.2% during the second quarter. Trellus Management Company LLC now owns 600,000 shares of the software maker’s stock worth $618,000 after purchasing an additional 83,675 shares during the last quarter. Carleon Capital Partners LLC acquired a new stake in shares of Digital Turbine during the second quarter worth $2,673,000. Unterberg Capital LLC acquired a new stake in shares of Digital Turbine during the second quarter worth $412,000. Finally, White Pine Capital LLC boosted its holdings in shares of Digital Turbine by 23.2% during the second quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock worth $747,000 after purchasing an additional 136,800 shares during the last quarter. Institutional investors and hedge funds own 19.20% of the company’s stock.

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About Digital Turbine

Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.

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