Home / Market Movers / Digital Turbine Inc. (APPS) Slides 15.33% at Midday on September 23, Weighs on Tech Sector

Digital Turbine Inc. (APPS) Slides 15.33% at Midday on September 23, Weighs on Tech Sector

Digital Turbine Inc. (APPS) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the technology sector halfway through the trading day. At the lunch break, shares of APPS have fallen 15.33% to $1.05 after closing the day prior at $1.24. So far, the stock has traded as high as $1.24 and as low as $1.03. Today’s decline has come with about 761,184 shares changing hands, compared to an average 30-day volume of 283,414 for Digital Turbine Inc.. The price is currently below the 30-day volume weighted average price of $1.07 for APPS.

The share depreciation gives the company a market capitalization of $82.63 million based upon 66.63 million shares outstanding. It also means that APPS has a price-to-book ratio of 1.09:1.

In the past 52 weeks, shares of APPS have traded as low as $0.73 and as high as $1.97. Technical traders will take note that at $1.05, shares of APPS are trading below their 200-day MA at $1.13 and below their 50-day MA at $1.19. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is APPS?

Digital Turbine Inc through its subsidiaries, delivers end-to-end products and solutions for mobile operators, app advertisers, device OEMs and other third parties to enable them to monetize mobile content and generate higher value user acquisition. The company’s 161 employees are led by CEO William Gordon Stone from the corporate headquarters at 1300 Guadalupe Street in Austin, TX.

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