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

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 4,440,000 shares, a decline of 25.8% from the February 13th total of 5,980,000 shares. Based on an average daily volume of 6,500,000 shares, the short-interest ratio is presently 0.7 days. Approximately 4.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of APPS. Geode Capital Management LLC raised its holdings in shares of Digital Turbine by 8.4% during the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after buying an additional 181,032 shares during the last quarter. Two Sigma Investments LP raised its stake in Digital Turbine by 19.1% during the 4th quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker’s stock valued at $3,559,000 after acquiring an additional 337,959 shares in the last quarter. Bank of America Corp DE raised its stake in Digital Turbine by 55.6% during the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker’s stock valued at $3,427,000 after acquiring an additional 724,297 shares in the last quarter. Two Sigma Advisers LP boosted its position in Digital Turbine by 0.4% during the 4th quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker’s stock worth $2,775,000 after acquiring an additional 7,100 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Digital Turbine in the fourth quarter worth $1,698,000. Institutional investors own 63.66% of the company’s stock.

Digital Turbine Trading Up 5.3 %

NASDAQ:APPS opened at $3.35 on Monday. The firm has a market capitalization of $351.77 million, a P/E ratio of -1.11 and a beta of 2.43. The business has a 50 day simple moving average of $3.29 and a 200 day simple moving average of $2.69. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.06. Digital Turbine has a 12-month low of $1.18 and a 12-month high of $6.86.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities research analysts predict that Digital Turbine will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Digital Turbine from a “sell” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Digital Turbine presently has a consensus rating of “Hold” and a consensus price target of $2.38.

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.