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

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

Digital Turbine Stock Performance

Shares of NASDAQ APPS opened at $3.52 on Monday. Digital Turbine has a 1 year low of $1.18 and a 1 year high of $6.86. The firm has a market cap of $369.62 million, a P/E ratio of -1.16 and a beta of 2.43. The stock has a fifty day moving average price of $3.49 and a two-hundred day moving average price 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 announced its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. Research analysts forecast that Digital Turbine will post -0.03 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

A number of hedge funds and other institutional investors have recently made changes to their positions in APPS. Marshall Wace LLP bought a new stake in Digital Turbine during the fourth quarter worth approximately $1,698,000. Bank of America Corp DE lifted its position in shares of Digital Turbine by 55.6% during the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker’s stock valued at $3,427,000 after acquiring an additional 724,297 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Digital Turbine by 719.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock worth $1,191,000 after acquiring an additional 340,512 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Digital Turbine by 19.1% during the 4th quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker’s stock worth $3,559,000 after acquiring an additional 337,959 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Digital Turbine in the 4th quarter worth $490,000. 63.66% of the stock is currently owned by 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.