Digital Turbine Inc (NASDAQ:APPS)’s stock price was up 9.6% on Friday . The stock traded as high as $6.63 and last traded at $6.52, approximately 3,678,699 shares were traded during trading. An increase of 149% from the average daily volume of 1,478,280 shares. The stock had previously closed at $5.95.
Several analysts have recently weighed in on APPS shares. BidaskClub upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Zacks Investment Research upgraded Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a report on Tuesday, July 2nd. Craig Hallum set a $6.00 price target on Digital Turbine and gave the stock a “buy” rating in a report on Tuesday, June 4th. National Securities reiterated a “buy” rating and issued a $4.50 target price on shares of Digital Turbine in a report on Tuesday, June 4th. Finally, Canaccord Genuity started coverage on Digital Turbine in a report on Thursday, June 27th. They issued a “buy” rating and a $6.00 target price on the stock. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Digital Turbine has an average rating of “Buy” and a consensus price target of $5.56.
The company has a fifty day moving average of $5.46 and a 200 day moving average of $4.07. The firm has a market capitalization of $512.75 million, a P/E ratio of 130.40 and a beta of 1.83.
In other Digital Turbine news, Director Paul M. Schaeffer sold 31,847 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.54, for a total value of $144,585.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul M. Schaeffer sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $4.47, for a total value of $670,500.00. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Wedbush Securities Inc. raised its position in shares of Digital Turbine by 30.4% during the first quarter. Wedbush Securities Inc. now owns 30,000 shares of the software maker’s stock worth $105,000 after purchasing an additional 7,000 shares during the period. Roubaix Capital LLC raised its position in shares of Digital Turbine by 3.5% during the second quarter. Roubaix Capital LLC now owns 525,680 shares of the software maker’s stock worth $2,628,000 after purchasing an additional 17,994 shares during the period. 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. Sterling Investment Advisors Ltd. acquired a new position in shares of Digital Turbine during the first quarter worth approximately $88,000. Finally, Laurion Capital Management LP raised its position in shares of Digital Turbine by 412.8% during the first quarter. Laurion Capital Management LP now owns 328,700 shares of the software maker’s stock worth $1,150,000 after purchasing an additional 264,600 shares during the period. 27.19% of the stock is currently owned by hedge funds and other institutional investors.
Digital Turbine Company Profile (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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