Digital Turbine Inc (APPS) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Digital Turbine Inc (NASDAQ:APPS) from a hold rating to a sell rating in a research report sent to investors on Monday morning, Analyst Ratings Net reports.

According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “

A number of other equities analysts have also weighed in on APPS. Craig Hallum lowered their price objective on shares of Digital Turbine from $9.00 to $4.50 in a research report on Tuesday, November 10th. B. Riley reiterated a buy rating and issued a $3.00 price objective on shares of Digital Turbine in a research report on Tuesday, November 10th. Finally, Roth Capital reiterated a buy rating on shares of Digital Turbine in a research report on Saturday.

In other Digital Turbine news, CEO William Gordon Stone III bought 100,000 shares of Digital Turbine stock in a transaction on Wednesday, December 16th. The stock was bought at an average price of $1.35 per share, with a total value of $135,000.00. Following the completion of the acquisition, the chief executive officer now owns 362,080 shares in the company, valued at $488,808. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

An institutional investor recently raised its position in Digital Turbine stock. Trellus Management Company LLC raised its position in shares of Digital Turbine Inc (NASDAQ:APPS) by 68.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,100 shares of the company’s stock after buying an additional 184,100 shares during the period. Trellus Management Company LLC owned 0.69% of Digital Turbine worth $604,000 as of its most recent SEC filing.

Shares of Digital Turbine (NASDAQ:APPS) opened at 1.37 on Monday. Digital Turbine has a 12-month low of $0.85 and a 12-month high of $4.39. The stock’s 50 day moving average is $1.24 and its 200-day moving average is $1.73. The stock’s market cap is $90.52 million.

Digital Turbine, Inc, formerly Mandalay Digital Group Inc, is delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (NASDAQ:APPS) and other third parties to enable them to monetize mobile content.

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