Digital Turbine Inc (NASDAQ:APPS)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $7.26 and last traded at $7.20, with a volume of 626517 shares. The stock had previously closed at $6.84.
A number of research analysts have commented on the company. Zacks Investment Research raised Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a report on Tuesday, July 2nd. B. Riley increased their target price on Digital Turbine from $6.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, June 19th. ValuEngine raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. BidaskClub raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, National Securities reissued a “buy” rating and issued a $4.50 price target on shares of Digital Turbine in a report on Tuesday, June 4th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Digital Turbine presently has an average rating of “Buy” and an average price target of $5.56.
The firm has a 50 day simple moving average of $5.58 and a two-hundred day simple moving average of $4.13. The stock has a market cap of $541.22 million, a P/E ratio of 147.80 and a beta of 1.83.
In other news, Director Paul M. Schaeffer sold 31,847 shares of Digital Turbine stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.54, for a total transaction of $144,585.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul M. Schaeffer sold 150,000 shares of Digital Turbine stock in a transaction 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 company insiders.
Several hedge funds have recently modified their holdings of APPS. Bank of Montreal Can acquired a new position in shares of Digital Turbine during the 2nd quarter valued at $32,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Digital Turbine in the second quarter worth $33,000. Cornerstone Wealth Group LLC acquired a new stake in shares of Digital Turbine in the first quarter worth $44,000. Delta Investment Management LLC acquired a new stake in shares of Digital Turbine in the second quarter worth $75,000. Finally, Millennium Management LLC acquired a new stake in shares of Digital Turbine in the fourth quarter worth $83,000. Institutional investors own 35.10% of the company’s stock.
About Digital Turbine (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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