Digital Turbine, Inc. (NASDAQ:APPS) Sees Large Growth in Short Interest

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 6,560,000 shares, an increase of 19.9% from the March 31st total of 5,470,000 shares. Approximately 7.2% of the shares of the stock are sold short. Based on an average trading volume of 2,760,000 shares, the short-interest ratio is currently 2.4 days.

Institutional Trading of Digital Turbine

Several hedge funds and other institutional investors have recently bought and sold shares of APPS. Pineridge Advisors LLC purchased a new stake in Digital Turbine in the 4th quarter worth approximately $34,000. GAMMA Investing LLC acquired a new position in shares of Digital Turbine in the 4th quarter valued at $43,000. New Mexico Educational Retirement Board acquired a new position in shares of Digital Turbine in the 1st quarter valued at $47,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Digital Turbine in the 1st quarter valued at $55,000. Finally, Blue Trust Inc. boosted its holdings in shares of Digital Turbine by 87.6% in the 4th quarter. Blue Trust Inc. now owns 9,093 shares of the software maker's stock valued at $62,000 after purchasing an additional 4,245 shares during the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on APPS shares. StockNews.com downgraded shares of Digital Turbine from a "hold" rating to a "sell" rating in a research report on Monday, April 22nd. Craig Hallum dropped their price objective 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. Finally, Roth Mkm dropped their price objective on shares of 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 stock. According to MarketBeat, Digital Turbine has a consensus rating of "Hold" and an average target price of $7.50.

Digital Turbine Price Performance

Shares of APPS remained flat at $1.82 during mid-day trading on Friday. 867,100 shares of the stock were exchanged, compared to its average volume of 1,703,408. 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 stock's 50-day simple moving average is $2.60 and its 200-day simple moving average is $4.49. Digital Turbine has a fifty-two week low of $1.78 and a fifty-two week high of $14.61. The company has a market cap of $185.68 million, a P/E ratio of -0.92, a price-to-earnings-growth ratio of 4.47 and a beta of 2.48.

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