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

Digital Turbine, Inc. (NASDAQ:APPSGet Free Report) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 3,440,000 shares, a decrease of 9.2% from the December 31st total of 3,790,000 shares. Approximately 3.8% of the shares of the stock are sold short. Based on an average trading volume of 1,840,000 shares, the short-interest ratio is currently 1.9 days.

Digital Turbine Stock Down 5.4 %

Digital Turbine stock opened at $5.39 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $546.06 million, a price-to-earnings ratio of -3.01, a price-to-earnings-growth ratio of 3.66 and a beta of 2.69. Digital Turbine has a fifty-two week low of $4.10 and a fifty-two week high of $18.76. The stock’s fifty day moving average is $6.03 and its two-hundred day moving average is $6.85.

Digital Turbine (NASDAQ:APPSGet Free Report) last posted its earnings results on Wednesday, November 8th. The software maker reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $143.26 million during the quarter, compared to analyst estimates of $146.00 million. Digital Turbine had a negative net margin of 30.33% and a positive return on equity of 6.82%. Analysts predict that Digital Turbine will post 0.25 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

Large investors have recently bought and sold shares of the company. Ronald Blue Trust Inc. grew its holdings in Digital Turbine by 395.2% in the third quarter. Ronald Blue Trust Inc. now owns 4,848 shares of the software maker’s stock valued at $29,000 after purchasing an additional 3,869 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Digital Turbine during the fourth quarter valued at $31,000. PNC Financial Services Group Inc. boosted its stake in shares of Digital Turbine by 90.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,644 shares of the software maker’s stock valued at $34,000 after acquiring an additional 1,735 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Digital Turbine during the first quarter valued at $58,000. Finally, Blue Trust Inc. boosted its stake in shares of Digital Turbine by 87.6% during the fourth quarter. Blue Trust Inc. now owns 9,093 shares of the software maker’s stock valued at $62,000 after acquiring an additional 4,245 shares during the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Digital Turbine from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.80.

Read Our Latest Analysis on Digital Turbine

About Digital Turbine

(Get Free Report)

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.

Further Reading

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