Short Interest in Digital Turbine, Inc. (NASDAQ:APPS) Increases By 97.4%

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 5,980,000 shares, a growth of 97.4% from the January 31st total of 3,030,000 shares. Currently, 6.6% of the shares of the company are short sold. Based on an average trading volume of 6,300,000 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

APPS has been the topic of a number of research analyst reports. Macquarie lowered their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. StockNews.com raised Digital Turbine from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Bank of America downgraded Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. Finally, Craig Hallum reduced their price objective on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.38.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in APPS. Marshall Wace LLP purchased a new position in Digital Turbine during the fourth quarter valued at approximately $1,698,000. Bank of America Corp DE lifted its stake in shares of 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 buying an additional 724,297 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Digital Turbine by 719.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock worth $1,191,000 after buying an additional 340,512 shares during the period. Two Sigma Investments LP increased its stake in Digital Turbine by 19.1% in the 4th quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker’s stock worth $3,559,000 after buying an additional 337,959 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Digital Turbine during the fourth quarter valued at about $490,000. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Trading Down 4.2 %

Shares of Digital Turbine stock opened at $3.43 on Friday. Digital Turbine has a 1-year low of $1.18 and a 1-year high of $6.86. The company’s fifty day simple moving average is $2.99 and its 200-day simple moving average is $2.74. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $360.17 million, a PE ratio of -1.13 and a beta of 2.38.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share 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%. As a group, equities analysts anticipate that Digital Turbine will post -0.03 earnings per share for the current 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.