Digital Turbine, Inc. (NASDAQ:APPS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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. “

APPS has been the subject of a number of other research reports. ValuEngine raised shares of Digital Turbine from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 1st. Ladenburg Thalmann Financial Services boosted their price target on shares of Digital Turbine from $1.25 to $2.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Roth Capital set a $1.00 price target on shares of Digital Turbine and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, B. Riley reaffirmed a “buy” rating and issued a $1.40 price objective on shares of Digital Turbine in a research note on Monday, August 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $1.43.

Digital Turbine (NASDAQ:APPS) traded up 1.27% during mid-day trading on Tuesday, hitting $1.60. 327,141 shares of the company traded hands. The firm has a 50 day moving average of $1.34 and a 200 day moving average of $1.13. The firm’s market capitalization is $106.57 million. Digital Turbine has a one year low of $0.56 and a one year high of $1.62.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Monday, August 7th. The software maker reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. The business had revenue of $26.10 million for the quarter, compared to analyst estimates of $24.46 million. Digital Turbine had a negative net margin of 22.54% and a negative return on equity of 31.91%. During the same quarter in the prior year, the firm posted ($0.11) EPS. Equities research analysts expect that Digital Turbine will post ($0.11) earnings per share for the current fiscal year.

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In other Digital Turbine news, CEO William Gordon Stone III purchased 126,400 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $1.12 per share, for a total transaction of $141,568.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. White Pine Capital LLC grew its position in Digital Turbine by 23.2% during the 2nd quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock valued at $747,000 after purchasing an additional 136,800 shares during the last quarter. Trellus Management Company LLC grew its position in Digital Turbine by 16.2% during the 2nd quarter. Trellus Management Company LLC now owns 600,000 shares of the software maker’s stock valued at $618,000 after purchasing an additional 83,675 shares during the last quarter. Unterberg Capital LLC purchased a new stake in Digital Turbine during the 2nd quarter valued at about $412,000. Carleon Capital Partners LLC purchased a new stake in Digital Turbine during the 2nd quarter valued at about $2,673,000. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in Digital Turbine during the 1st quarter valued at about $188,000. 19.20% of the stock is currently owned by institutional investors.

About Digital Turbine

Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.

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