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

Digital Turbine, Inc. (NASDAQ:APPS) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 4,440,000 shares, a drop of 25.8% from the February 13th total of 5,980,000 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,500,000 shares, the days-to-cover ratio is presently 0.7 days.

Digital Turbine Price Performance

Shares of APPS opened at $3.35 on Friday. Digital Turbine has a 1 year low of $1.18 and a 1 year high of $6.86. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $351.77 million, a price-to-earnings ratio of -1.11 and a beta of 2.43. The business has a 50-day moving average of $3.29 and a 200-day moving average of $2.70.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share 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%. As a group, equities research analysts anticipate that Digital Turbine will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Digital Turbine from a “sell” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.38.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds have recently added to or reduced their stakes in APPS. Marshall Wace LLP bought a new stake in Digital Turbine in the fourth quarter worth approximately $1,698,000. Bank of America Corp DE increased its holdings in Digital Turbine by 55.6% in the fourth quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker’s stock worth $3,427,000 after purchasing an additional 724,297 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Digital Turbine by 719.6% in the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock worth $1,191,000 after purchasing an additional 340,512 shares in the last quarter. Two Sigma Investments LP grew its stake in Digital Turbine by 19.1% in the fourth quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker’s stock valued at $3,559,000 after acquiring an additional 337,959 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Digital Turbine in the fourth quarter valued at approximately $490,000. 63.66% of the stock is currently owned by institutional investors.

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.