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

Digital Turbine, Inc. (NASDAQ:APPS) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 3,030,000 shares, a decline of 44.6% from the January 15th total of 5,470,000 shares. Based on an average trading volume of 6,550,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 3.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after acquiring an additional 4,167 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Digital Turbine during the 4th quarter worth approximately $28,000. Plancorp LLC purchased a new stake in shares of Digital Turbine during the 4th quarter worth approximately $35,000. Ballentine Partners LLC purchased a new stake in shares of Digital Turbine during the 3rd quarter worth approximately $43,000. Finally, Ieq Capital LLC purchased a new stake in shares of Digital Turbine during the 4th quarter worth approximately $55,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Craig Hallum cut their price objective on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Macquarie cut their price objective on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. StockNews.com upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Bank of America downgraded Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $3.50 to $1.00 in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.38.

Digital Turbine Stock Down 5.1 %

NASDAQ APPS opened at $6.19 on Friday. The stock’s 50 day moving average is $2.46 and its 200 day moving average is $2.60. The company has a current ratio of 1.06, a quick ratio of 1.09 and a debt-to-equity ratio of 2.50. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $6.86. The stock has a market cap of $649.99 million, a PE ratio of -2.04 and a beta of 2.38.

Digital Turbine (NASDAQ:APPS) last posted its quarterly 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%. Research analysts predict that Digital Turbine will post -0.13 EPS for the current fiscal year.

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.