Short Interest in Digital Turbine, Inc. (NASDAQ:APPS) Expands By 11.4%

Digital Turbine, Inc. (NASDAQ:APPS) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 5,480,000 shares, a growth of 11.4% from the October 31st total of 4,920,000 shares. Currently, 6.0% of the shares of the stock are sold short. Based on an average daily volume of 3,440,000 shares, the short-interest ratio is presently 1.6 days.

Digital Turbine Trading Up 0.7 %

NASDAQ:APPS traded up $0.01 on Monday, hitting $1.44. 1,039,423 shares of the stock were exchanged, compared to its average volume of 3,123,763. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09. Digital Turbine has a 52 week low of $1.18 and a 52 week high of $7.33. The stock has a market capitalization of $149.37 million, a price-to-earnings ratio of -0.49 and a beta of 2.59. The company’s 50-day moving average price is $2.55 and its 200 day moving average price is $2.43.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $118.70 million during the quarter, compared to analyst estimates of $125.85 million. Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter last year, the business posted $0.04 earnings per share. On average, equities research analysts forecast that Digital Turbine will post -0.13 earnings per share for the current year.

Insider Transactions at Digital Turbine

In other Digital Turbine news, Director Robert M. Deutschman purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $1.41 per share, with a total value of $141,000.00. Following the acquisition, the director now directly owns 571,216 shares of the company’s stock, valued at approximately $805,414.56. This trade represents a 21.22 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in shares of Digital Turbine by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after buying an additional 3,695 shares during the period. Blue Trust Inc. lifted its stake in Digital Turbine by 104.1% in the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after acquiring an additional 4,167 shares in the last quarter. Rhumbline Advisers boosted its position in Digital Turbine by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 152,877 shares of the software maker’s stock worth $254,000 after acquiring an additional 5,734 shares during the last quarter. Point72 DIFC Ltd grew its stake in shares of Digital Turbine by 18.4% during the 2nd quarter. Point72 DIFC Ltd now owns 44,603 shares of the software maker’s stock worth $74,000 after acquiring an additional 6,936 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Digital Turbine by 37.7% in the third quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock valued at $82,000 after purchasing an additional 7,266 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APPS. Macquarie cut their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Craig Hallum dropped their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Digital Turbine has a consensus rating of “Hold” and a consensus target price of $2.38.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.