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

Digital Turbine, Inc. (NASDAQ:APPS) was the target of a significant 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. Currently, 3.3% of the shares of the stock are sold short. Based on an average daily volume of 6,550,000 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Digital Turbine by 8.4% in the 3rd 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 period. Rice Hall James & Associates LLC increased its stake in Digital Turbine by 4.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker’s stock valued at $6,051,000 after buying an additional 77,185 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Digital Turbine by 14.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 886,508 shares of the software maker’s stock valued at $1,498,000 after buying an additional 110,427 shares during the period. JPMorgan Chase & Co. increased its stake in Digital Turbine by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker’s stock valued at $916,000 after buying an additional 153,991 shares during the period. Finally, Baader Bank Aktiengesellschaft increased its stake in Digital Turbine by 22.1% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 532,325 shares of the software maker’s stock valued at $899,000 after buying an additional 96,393 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Stock Performance

APPS stock opened at $6.14 on Thursday. Digital Turbine has a 52-week low of $1.18 and a 52-week high of $6.40. The company’s 50 day simple moving average is $2.26 and its 200-day simple moving average is $2.55. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.09 and a current ratio of 1.06.

Digital Turbine (NASDAQ:APPS) last released its quarterly 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%. On average, equities research analysts anticipate that Digital Turbine will post -0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on APPS shares. Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and cut their target price for the company from $3.50 to $1.00 in a research note on Friday, November 15th. StockNews.com raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a research note on Wednesday. Macquarie cut 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. Finally, Craig Hallum cut their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.38.

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.