Investing in Digital Turbine Inc. (APPS): What You Must Know


Digital Turbine Inc.’s filing revealed that its Director Chestnutt Roy H acquired Company’s shares for reported $59743.0 on May 31. In the deal valued at $9.17 per share,6,515 shares were bought. As a result of this transaction, Chestnutt Roy H now holds 124,125 shares worth roughly $ 1.05 million.

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Then, DEUTSCHMAN ROBERT M bought 5,000 shares, generating $43,825 in total proceeds. Upon buying the shares at $8.77, the Director now owns 304,017 shares.

Before that, STONE WILLIAM GORDON III sold 35,000 shares. Digital Turbine Inc. shares valued at $359,100 were divested by the Chief Executive Officer at a price of $10.26 per share. As a result of the transaction, STONE WILLIAM GORDON III now holds 1,612,789 shares, worth roughly $13.6 million.

ROTH MKM downgraded its Digital Turbine Inc. [APPS] rating to a Neutral from a a Buy in a research note published on Tuesday, May 25, 2023; the price target was decreased to $10 from $15. PT values the company’s stock at a premium of 15.7 to its Tuesday closing price.

Price Performance Review of APPS

On Tuesday, Digital Turbine Inc. [NASDAQ:APPS] saw its stock fall -4.64% to $8.43. On the same session, the stock had its day’s lowest price of $8.40, but rose to a high of $8.72. Over the last five days, the stock has lost -5.49%. Digital Turbine Inc. shares have fallen nearly -44.69% since the year began. Nevertheless, the stocks have fallen -52.43% over the past one year. While a 52-week high of $20.42 was reached on 02/02/23, a 52-week low of $7.72 was recorded on 05/26/23. SMA at 50 days reached $9.67, while 200 days put it at $12.29. A total of 1.17 million shares were traded, compared to the trading of 0.84 million shares in the previous session.

Levels Of Support And Resistance For APPS Stock

The 24-hour chart illustrates a support level at 8.31, which if violated will result in even more drops to 8.20. On the upside, there is a resistance level at 8.63. A further resistance level may holdings at 8.84. The Relative Strength Index (RSI) on the 14-day chart is 32.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.84%. Stochastics %K at 19.83% indicates the stock is a buying.

How much short interest is there in Digital Turbine Inc.?

A steep rise in short interest was recorded in Digital Turbine Inc. stocks on Aug 14, 2023, dropping by -0.99 million shares to a total of 5.7 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 6.69 million shares. There was a decline of -17.37%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.01% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.35.

Digital Turbine Inc. [APPS] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 13,720,306 shares, or roughly 13.68% of the outstanding APPS shares. In other words, the investor’s shares have risen by 245,928 from its previous 13-F filing of 13474378.0. Additionally, The Vanguard Group, Inc. increased 10.65% of its stake after which the total value it holdings stand at $129,901,747, while SSgA Funds Management, Inc. added 5.62% of its stake to hold $39.84 million in the firm. Over the last quarter, American Century Investment Manag sold -95,755 shares of Digital Turbine Inc., while Geode Capital Management LLC sold 89,736 shares. At present, Rice, Hall, James & Associates LL is holding 1,848,924 shares valued at $20.04 million. Dimensional Fund Advisors LP owned 1,283,221 shares of the company at the time of its most recent 13F filing, worth $13.91 million.

According to FactSet, Digital Turbine Inc.’s share price will average $11.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 24.43 percent from its previous closing price of $8.84. Analysts expect Digital Turbine Inc. stock to reach the higher price of $18.00, while the lowest price estimate is $9.00. However, 7 analysts have rated APPS stock as an Overweight in their predictions for 2023.


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