Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Update

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 5,180,000 shares, an increase of 24.8% from the September 15th total of 4,150,000 shares. Approximately 5.7% of the company’s stock are sold short. Based on an average daily volume of 4,120,000 shares, the short-interest ratio is currently 1.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Pineridge Advisors LLC bought a new stake in Digital Turbine during the 4th quarter worth about $34,000. Quadrature Capital Ltd acquired a new position in Digital Turbine during the first quarter valued at approximately $28,000. Creative Planning bought a new position in Digital Turbine in the third quarter valued at approximately $57,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Digital Turbine during the 1st quarter worth approximately $55,000. Finally, SG Americas Securities LLC bought a new stake in shares of Digital Turbine during the 2nd quarter worth approximately $46,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Stock Performance

Shares of NASDAQ APPS opened at $3.51 on Tuesday. The business’s 50-day simple moving average is $3.05 and its 200-day simple moving average is $2.36. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.05 and a current ratio of 1.05. Digital Turbine has a 52 week low of $1.39 and a 52 week high of $7.32. The firm has a market cap of $359.80 million, a price-to-earnings ratio of -0.85, a P/E/G ratio of 9.68 and a beta of 2.61.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Digital Turbine had a positive return on equity of 5.37% and a negative net margin of 84.71%. The company had revenue of $117.99 million for the quarter, compared to the consensus estimate of $115.23 million. During the same period last year, the business posted $0.08 earnings per share. The firm’s revenue was down 19.4% compared to the same quarter last year. As a group, equities research analysts expect that Digital Turbine will post 0.05 earnings per share for the current fiscal year.

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.