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

Digital Turbine, Inc. (NASDAQ:APPSGet Free Report) saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 5,360,000 shares, a decline of 6.3% from the May 15th total of 5,720,000 shares. Based on an average daily volume of 2,440,000 shares, the short-interest ratio is presently 2.2 days. Currently, 5.9% of the shares of the company are short sold.

Institutional Trading of Digital Turbine

A number of institutional investors and hedge funds have recently bought and sold shares of APPS. New York State Common Retirement Fund raised its position in shares of Digital Turbine by 94.6% during the 3rd quarter. New York State Common Retirement Fund now owns 94,131 shares of the software maker’s stock valued at $569,000 after buying an additional 45,763 shares in the last quarter. Swiss National Bank raised its holdings in Digital Turbine by 1.8% during the 3rd quarter. Swiss National Bank now owns 219,800 shares of the software maker’s stock valued at $1,330,000 after buying an additional 3,800 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Digital Turbine by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 719,713 shares of the software maker’s stock worth $4,354,000 after buying an additional 27,168 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Digital Turbine by 153.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 81,024 shares of the software maker’s stock worth $490,000 after buying an additional 49,037 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Digital Turbine by 194.3% during the third quarter. PNC Financial Services Group Inc. now owns 10,725 shares of the software maker’s stock valued at $65,000 after acquiring an additional 7,081 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Stock Down 2.0 %

NASDAQ APPS traded down $0.03 during trading hours on Tuesday, reaching $1.49. The company’s stock had a trading volume of 267,897 shares, compared to its average volume of 2,377,819. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.79. Digital Turbine has a 1 year low of $1.45 and a 1 year high of $11.46. The firm’s 50-day moving average price is $1.98 and its 200-day moving average price is $3.71.

Analyst Ratings Changes

Several analysts have issued reports on the company. Craig Hallum cut their price target on Digital Turbine from $10.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. StockNews.com raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Roth Mkm reduced their price objective on shares of Digital Turbine from $3.00 to $2.50 and set a “neutral” rating for the company in a research note on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.17.

Get Our Latest Analysis on Digital Turbine

Digital Turbine Company Profile

(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.

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