Digital Turbine (NASDAQ:APPS) Stock Passes Above Fifty Day Moving Average – Should You Sell?

Shares of Digital Turbine, Inc. (NASDAQ:APPS) crossed 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 traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Craig Hallum dropped their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Macquarie decreased their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Bank of America downgraded 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 note on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Stock Down 2.2 %

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $187.74 million, a P/E ratio of -0.61 and a beta of 2.34. The stock’s 50-day simple moving average is $1.68 and its 200-day simple moving average is $2.40.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The firm’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. As a group, research analysts predict that Digital Turbine, Inc. will post -0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert M. Deutschman acquired 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $1.41 per share, with a total value of $141,000.00. Following the completion of the purchase, the director now owns 571,216 shares in the company, valued at $805,414.56. This trade represents a 21.22 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 127,000 shares of company stock valued at $175,610 in the last quarter. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Digital Turbine

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in Digital Turbine by 97.1% in the second quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock worth $2,546,000 after buying an additional 755,707 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Digital Turbine in the 2nd quarter worth approximately $594,000. JPMorgan Chase & Co. lifted its position in Digital Turbine by 719.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock valued at $1,191,000 after acquiring an additional 340,512 shares in the last quarter. Geode Capital Management LLC lifted its position in Digital Turbine by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after acquiring an additional 181,032 shares in the last quarter. Finally, Lindbrook Capital LLC purchased a new stake in Digital Turbine during the 3rd quarter valued at $405,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

About Digital Turbine

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.