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

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 7,030,000 shares, an increase of 26.9% from the March 31st total of 5,540,000 shares. Approximately 7.7% of the company's stock are sold short. Based on an average daily trading volume, of 6,650,000 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of Digital Turbine

Several hedge funds have recently bought and sold shares of APPS. AIGH Capital Management LLC purchased a new stake in Digital Turbine during the 1st quarter valued at $1,170,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Digital Turbine during the first quarter valued at approximately $1,271,000. Greenhaven Road Investment Management L.P. boosted its position in Digital Turbine by 467.1% during the first quarter. Greenhaven Road Investment Management L.P. now owns 1,025,951 shares of the software maker's stock valued at $2,785,000 after purchasing an additional 845,051 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Digital Turbine during the 1st quarter worth approximately $2,710,000. Finally, CWM LLC grew its stake in Digital Turbine by 532.2% during the 1st quarter. CWM LLC now owns 42,570 shares of the software maker's stock worth $116,000 after buying an additional 35,836 shares during the last quarter. Hedge funds and other institutional investors own 63.66% of the company's stock.

Digital Turbine Stock Up 16.7 %

Shares of APPS stock traded up $0.52 during trading hours on Wednesday, hitting $3.61. 5,250,125 shares of the company's stock traded hands, compared to its average volume of 4,268,612. Digital Turbine has a 12-month low of $1.18 and a 12-month 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 $378.55 million, a price-to-earnings ratio of -1.19 and a beta of 2.41. The stock's fifty day simple moving average is $3.04 and its two-hundred day simple moving average is $2.71.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. On average, analysts expect that Digital Turbine will post -0.03 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut Digital Turbine from a "hold" rating to a "sell" rating in a research report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Digital Turbine has an average rating of "Hold" and an average price target 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.