Digital Turbine (NASDAQ:APPS) Lowered to “Sell” Rating by StockNews.com

Digital Turbine (NASDAQ:APPS) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Digital Turbine Price Performance

Shares of NASDAQ APPS traded up $0.13 during midday trading on Monday, reaching $3.65. The stock had a trading volume of 3,107,168 shares, compared to its average volume of 4,084,124. The company has a market capitalization of $383.28 million, a price-to-earnings ratio of -1.20 and a beta of 2.43. Digital Turbine has a 12-month low of $1.18 and a 12-month high of $6.86. The stock has a 50-day moving average of $3.49 and a 200-day moving average of $2.71. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.06 and a current ratio of 1.06.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. As a group, research analysts anticipate that Digital Turbine will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Several institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in Digital Turbine during the fourth quarter valued at $28,000. Plancorp LLC bought a new stake in shares of Digital Turbine in the fourth quarter worth about $35,000. ProShare Advisors LLC lifted its position in shares of Digital Turbine by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker’s stock worth $46,000 after buying an additional 8,892 shares in the last quarter. Intech Investment Management LLC bought a new position in Digital Turbine during the third quarter valued at approximately $84,000. Finally, Cetera Investment Advisers grew its holdings in Digital Turbine by 94.3% during the 4th quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker’s stock valued at $46,000 after buying an additional 13,317 shares in the last quarter. Institutional investors own 63.66% of the company’s stock.

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.