Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Down 34.4% in March

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 5,470,000 shares, a decrease of 34.4% from the March 15th total of 8,340,000 shares. Approximately 6.0% of the company's shares are sold short. Based on an average daily trading volume, of 2,700,000 shares, the short-interest ratio is presently 2.0 days.

Analysts Set New Price Targets

Several analysts have commented on APPS shares. Craig Hallum lowered their target price on shares of Digital Turbine from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, February 8th. StockNews.com downgraded Digital Turbine from a "hold" rating to a "sell" rating in a research report on Friday, April 5th. Finally, Roth Mkm dropped their target price on Digital Turbine from $5.50 to $4.50 and set a "neutral" rating for the company in a research note on Thursday, February 8th. 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. According to data from MarketBeat, Digital Turbine presently has an average rating of "Hold" and a consensus price target of $7.50.

Digital Turbine Trading Down 8.3 %

Digital Turbine stock traded down $0.17 during trading on Friday, reaching $1.87. The company had a trading volume of 2,287,513 shares, compared to its average volume of 2,631,064. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $190.78 million, a price-to-earnings ratio of -0.95, a PEG ratio of 5.04 and a beta of 2.48. Digital Turbine has a 12-month low of $1.87 and a 12-month high of $14.61. The stock's 50 day moving average price is $3.05 and its two-hundred day moving average price is $4.77.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The company had revenue of $142.63 million for the quarter, compared to analysts' expectations of $146.45 million. Digital Turbine had a negative net margin of 34.53% and a positive return on equity of 4.48%. As a group, equities analysts expect that Digital Turbine will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Digital Turbine during the 1st quarter worth about $58,000. Canada Pension Plan Investment Board acquired a new position in Digital Turbine during the first quarter valued at approximately $73,000. Lazard Asset Management LLC purchased a new stake in Digital Turbine during the fourth quarter worth approximately $31,000. PNC Financial Services Group Inc. increased its position in shares of Digital Turbine by 90.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,644 shares of the software maker's stock worth $34,000 after acquiring an additional 1,735 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Digital Turbine by 79.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,519 shares of the software maker's stock valued at $69,000 after acquiring an additional 1,995 shares during the period. Hedge funds and other institutional investors own 63.66% of the company's stock.

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.