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

Digital Turbine, Inc. (NASDAQ:APPS) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 3,030,000 shares, a decrease of 44.6% from the January 15th total of 5,470,000 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily trading volume, of 6,550,000 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of Digital Turbine

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in shares of Digital Turbine by 104.1% in the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after acquiring an additional 4,167 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Digital Turbine in the 4th quarter worth approximately $28,000. Plancorp LLC acquired a new stake in shares of Digital Turbine in the 4th quarter worth approximately $35,000. Ballentine Partners LLC acquired a new stake in shares of Digital Turbine in the 3rd quarter worth approximately $43,000. Finally, Ieq Capital LLC acquired a new stake in shares of Digital Turbine in the 4th quarter worth approximately $55,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on APPS shares. Bank of America downgraded shares of Digital Turbine from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $3.50 to $1.00 in a research report on Friday, November 15th. StockNews.com raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a research report on Wednesday. Craig Hallum lowered their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Macquarie reduced their target price on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note 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 given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Stock Up 12.7 %

Digital Turbine stock opened at $6.14 on Thursday. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.09. The firm has a 50-day moving average price of $2.26 and a two-hundred day moving average price of $2.55. Digital Turbine has a 52-week low of $1.18 and a 52-week high of $6.40.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) 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 -0.13 earnings per share for the current fiscal year.

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.