Digital Turbine, Inc. (NASDAQ:APPS) Sees Large Increase in Short Interest

Digital Turbine, Inc. (NASDAQ:APPS) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 5,980,000 shares, an increase of 97.4% from the January 31st total of 3,030,000 shares. Based on an average daily trading volume, of 6,300,000 shares, the short-interest ratio is currently 0.9 days. Approximately 6.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of APPS. Blue Trust Inc. grew its holdings in shares of Digital Turbine by 104.1% during the third quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after buying an additional 4,167 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Digital Turbine in the 4th quarter valued at approximately $28,000. Plancorp LLC purchased a new stake in Digital Turbine during the 4th quarter valued at $35,000. Cetera Investment Advisers increased its holdings in shares of Digital Turbine by 94.3% in the 4th quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker’s stock worth $46,000 after purchasing an additional 13,317 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Digital Turbine by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker’s stock worth $46,000 after purchasing an additional 8,892 shares during the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Stock Performance

Shares of APPS opened at $3.43 on Friday. Digital Turbine has a 52 week low of $1.18 and a 52 week high of $6.86. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. The stock has a market cap of $360.17 million, a P/E ratio of -1.13 and a beta of 2.38. The business’s 50 day moving average price is $2.99 and its 200-day moving average price is $2.74.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. Equities research analysts anticipate that Digital Turbine will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on APPS. Macquarie reduced their target price on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. StockNews.com upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Craig Hallum decreased their price objective on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $3.50 to $1.00 in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Company Profile

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.