Deuterium Capital Management LLC Acquires New Position in Digital Turbine, Inc. (NASDAQ:APPS)

Deuterium Capital Management LLC bought a new stake in Digital Turbine, Inc. (NASDAQ:APPS) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,100 shares of the software maker’s stock, valued at approximately $187,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Parkside Financial Bank & Trust boosted its stake in shares of Digital Turbine by 102.7% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,213 shares of the software maker’s stock valued at $27,000 after buying an additional 1,121 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Digital Turbine in the 4th quarter valued at $31,000. Quadrant Capital Group LLC lifted its position in shares of Digital Turbine by 340.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,806 shares of the software maker’s stock worth $58,000 after purchasing an additional 2,941 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Digital Turbine during the first quarter worth $58,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Digital Turbine by 79.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,519 shares of the software maker’s stock valued at $69,000 after buying an additional 1,995 shares during the last quarter. 64.64% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Price Performance

Digital Turbine stock traded down $0.29 during midday trading on Friday, hitting $7.62. 622,542 shares of the company’s stock were exchanged, compared to its average volume of 2,111,083. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. Digital Turbine, Inc. has a 12-month low of $7.59 and a 12-month high of $20.42. The firm’s 50 day simple moving average is $9.67 and its 200 day simple moving average is $10.54.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $146.37 million for the quarter, compared to analyst estimates of $143.06 million. Digital Turbine had a positive return on equity of 10.47% and a negative net margin of 1.03%. Equities research analysts forecast that Digital Turbine, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APPS has been the topic of a number of recent analyst reports. Bank of America dropped their price objective on Digital Turbine from $16.00 to $13.00 in a report on Thursday, May 25th. StockNews.com started coverage on shares of Digital Turbine in a report on Thursday, August 17th. They set a “sell” rating on the stock. Roth Mkm cut shares of Digital Turbine from a “buy” rating to a “neutral” rating and lowered their target price for the company from $15.00 to $10.00 in a report on Thursday, May 25th. Craig Hallum cut their price target on shares of Digital Turbine from $25.00 to $20.00 in a research note on Thursday, May 25th. Finally, Roth Capital cut shares of Digital Turbine from a “buy” rating to a “neutral” rating in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.71.

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.