Digital Turbine Inc (NASDAQ: APPS): Is It Possible To Be Down -66.47% YTD And Still Lose Money

During the last session, Digital Turbine Inc (NASDAQ:APPS)’s traded shares were 1.68 million, with the beta value of the company hitting 2.49. At the end of the trading day, the stock’s price was $2.30, reflecting an intraday loss of -2.54% or -$0.06. The 52-week high for the APPS share is $14.61, that puts it down -535.22 from that peak though still a striking 0.43% gain since the share price plummeted to a 52-week low of $2.29. The company’s market capitalization is $234.65M, and the average intraday trading volume over the past 10 days was 1.99 million shares, and the average trade volume was 2.74 million shares over the past three months.

Digital Turbine Inc (NASDAQ:APPS) trade information

Digital Turbine Inc (APPS) registered a -2.54% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.54% in intraday trading to $2.30, hitting a weekly high. The stock’s 5-day price performance is -6.88%, and it has moved by -27.90% in 30 days. Based on these gigs, the overall price performance for the year is -81.39%. The short interest in Digital Turbine Inc (NASDAQ:APPS) is 8.34 million shares and it means that shorts have 2.04 day(s) to cover.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Digital Turbine Inc (APPS) estimates and forecasts

Statistics show that Digital Turbine Inc has underperformed its competitors in share price, compared to the industry in which it operates. Digital Turbine Inc (APPS) shares have gone down -61.73% during the last six months, with a year-to-date growth rate less than the industry average at -56.52% against 19.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -50.00% this quarter and then drop -50.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -17.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $117.69 million as predicted by 5 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $129.99 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $140.12 million and $146.37 million respectively. In this case, analysts expect current quarter sales to shrink by -16.00% and then drop by -11.20% in the coming quarter.

While earnings are projected to return -56.33% in 2024, the next five years will return 3.40% per annum.

APPS Dividends

Digital Turbine Inc is due to release its next quarterly earnings between May 22 and May 27. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Digital Turbine Inc (NASDAQ:APPS)’s Major holders

Digital Turbine Inc insiders own 4.02% of total outstanding shares while institutional holders control 71.06%, with the float percentage being 74.04%. Blackrock Inc. is the largest shareholder of the company, while 303 institutions own stock in it. As of Jun 29, 2023, the company held over 14.59 million shares (or 14.51% of all shares), a total value of $135.37 million in shares.

The next largest institutional holding, with 12.18 million shares, is of Vanguard Group Inc’s that is approximately 12.12% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $113.06 million.

Also, the Mutual Funds coming in first place with the largest holdings of Digital Turbine Inc (APPS) shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2023 indicates that iShares Core S&P Smallcap ETF owns about 6.11 million shares. This amounts to just over 6.08 percent of the company’s overall shares, with a $36.99 million market value. The same data shows that the other fund manager holds slightly less at 2.9 million, or about 2.89% of the stock, which is worth about $26.93 million.