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

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 6,560,000 shares, an increase of 19.9% from the March 31st total of 5,470,000 shares. Currently, 7.2% of the company’s shares are sold short. Based on an average daily trading volume, of 2,760,000 shares, the short-interest ratio is presently 2.4 days.

Digital Turbine Stock Performance

Shares of APPS traded down $0.04 during mid-day trading on Tuesday, reaching $1.92. The company’s stock had a trading volume of 1,051,201 shares, compared to its average volume of 2,480,446. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.84. Digital Turbine has a 1-year low of $1.78 and a 1-year high of $14.61. The business has a 50-day simple moving average of $2.57 and a two-hundred day simple moving average of $4.45. The stock has a market cap of $195.88 million, a P/E ratio of -0.99, a PEG ratio of 4.47 and a beta of 2.49.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The business had revenue of $142.63 million during the quarter, compared to the consensus estimate of $146.45 million. Digital Turbine had a negative net margin of 34.53% and a positive return on equity of 4.48%. As a group, equities research analysts anticipate that Digital Turbine will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of APPS. Pineridge Advisors LLC bought a new position in Digital Turbine during the 4th quarter worth $34,000. GAMMA Investing LLC acquired a new position in shares of Digital Turbine in the fourth quarter valued at about $43,000. New Mexico Educational Retirement Board bought a new position in Digital Turbine during the first quarter worth about $47,000. Allspring Global Investments Holdings LLC acquired a new stake in Digital Turbine in the 1st quarter worth about $55,000. Finally, Blue Trust Inc. raised its stake in Digital Turbine by 87.6% in the 4th quarter. Blue Trust Inc. now owns 9,093 shares of the software maker’s stock worth $62,000 after purchasing an additional 4,245 shares in the last quarter. 63.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on APPS shares. StockNews.com upgraded shares of Digital Turbine from a “sell” rating to a “hold” rating in a research report on Tuesday. Craig Hallum decreased their target price on Digital Turbine from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Finally, Roth Mkm dropped their price target on Digital Turbine from $5.50 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.50.

About Digital Turbine

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.