Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Digital Turbine Inc. shares valued at $359,100 were sold by STONE WILLIAM GORDON III on Mar 16. At $10.26 per share, STONE WILLIAM GORDON III sold 35,000 shares. The insider’s holdings dropped to 1,612,789 shares worth approximately $13.27 million following the completion of this transaction.
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Also, STONE WILLIAM GORDON III sold 35,000 shares, netting a total of over 368,900 in proceeds. Following the sale of shares at $10.54 each, the insider now holds 1,647,789 shares.
Before that, DEUTSCHMAN ROBERT M had added 5,000 shares to its account. In a trade valued at $51,200, the Director bought Digital Turbine Inc. shares for $10.24 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $2.42 million.
Analyzing APPS Stock Performance
On Thursday, Digital Turbine Inc. [NASDAQ: APPS] plunged -42.97% to $8.23. The stock’s lowest price that day was $8.10, but it reached a high of $9.20 in the same session. During the last five days, there has been a drop of approximately -41.30%. Over the course of the year, Digital Turbine Inc. shares have dropped approximately -46.00%. Shares of the company reached a 52-week high of $18.76 on 02/02/23 and a 52-week low of $8.10 on 05/25/23. A 50-day SMA is recorded $12.06, while a 200-day SMA reached $14.85. Nevertheless, trading volume fell to 20.63 million shares from 3.7 million shares the previous day.
Support And Resistance Levels for Digital Turbine Inc. (APPS)
According to the 24-hour chart, there is a support level at 7.82, which, if violated, would cause prices to drop to 7.41. In the upper region, resistance lies at 8.92. The next price resistance is at 9.61. RSI (Relative Strength Index) is 27.03 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.37, which suggests the price will decrease in the coming days. Percent R is at 98.00%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Digital Turbine Inc. subject to short interest?
Stocks of Digital Turbine Inc. saw a sharp rise in short interest on Apr 27, 2023 jumping by 50000.0 shares to 6.55 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 6.5 million shares. A jump of 0.76% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.38 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.38.
Which companies own the most shares of Digital Turbine Inc. (APPS)?
According to BlackRock Fund Advisors filings, the company currently owns 13,474,378 shares, which is about 13.58% of the total APPS shares outstanding. The investor’s shares have plunged by -437,123 from its previous 13-F filing of 13911501.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $127,034,973. Granahan Investment Management, L acquire a 28.15% interest valued at $51.72 million while SSgA Funds Management, Inc. purchased a 267,208 stake. A total of 287,180 shares of Digital Turbine Inc. were bought by American Century Investment Manag during the quarter, and -23,675 were sold by Rice, Hall, James & Associates LL. In its current portfolio, Geode Capital Management LLC holds 1,767,968 shares valued at $20.74 million.
In terms of Digital Turbine Inc. share price expectations, FactSet research, analysts set an average price target of $12.33 in the next 12 months, down nearly -23.77% from the previous closing price of $14.43. Analysts anticipate Digital Turbine Inc. stock to reach $20.00 by 2023, with the lowest price target being $9.00. In spite of this, 7 analysts ranked Digital Turbine Inc. stock as a Hold at the end of 2023.