Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Up 26.9% in April

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 7,030,000 shares, a growth of 26.9% from the March 31st total of 5,540,000 shares. Based on an average trading volume of 6,650,000 shares, the days-to-cover ratio is currently 1.1 days. Currently, 7.7% of the shares of the company are short sold.

Digital Turbine Trading Up 0.3 %

Shares of APPS stock opened at $3.01 on Friday. The firm has a fifty day moving average price of $3.07 and a 200-day moving average price of $2.71. Digital Turbine has a 1 year low of $1.18 and a 1 year high of $6.86. 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 company has a market cap of $316.07 million, a price-to-earnings ratio of -0.99 and a beta of 2.48.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 predict that Digital Turbine will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Digital Turbine from a “hold” rating to a “sell” rating in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Digital Turbine has an average rating of “Hold” and a consensus target price of $2.38.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APPS. JPMorgan Chase & Co. lifted its holdings in shares of Digital Turbine by 719.6% in the third 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 in the last quarter. Acuitas Investments LLC purchased a new position in shares of Digital Turbine during the fourth quarter valued at about $140,000. Geode Capital Management LLC increased its holdings in shares of Digital Turbine by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after purchasing an additional 181,032 shares during the last quarter. Barclays PLC lifted its position in shares of Digital Turbine by 62.5% in the third quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock worth $776,000 after buying an additional 97,196 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in Digital Turbine during the 3rd quarter valued at approximately $185,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

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.