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

Digital Turbine, Inc. (NASDAQ:APPS) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 5,940,000 shares, a growth of 10.8% from the May 31st total of 5,360,000 shares. Based on an average daily volume of 1,980,000 shares, the short-interest ratio is presently 3.0 days. Approximately 6.5% of the shares of the stock are sold short.

Digital Turbine Trading Down 0.6 %

Shares of APPS traded down $0.01 during midday trading on Tuesday, hitting $1.68. The stock had a trading volume of 1,323,706 shares, compared to its average volume of 2,360,729. Digital Turbine has a fifty-two week low of $1.39 and a fifty-two week high of $11.46. The business has a 50-day simple moving average of $1.88 and a two-hundred day simple moving average of $3.35. The firm has a market cap of $172.22 million, a P/E ratio of -0.40, a price-to-earnings-growth ratio of 4.64 and a beta of 2.51. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.79.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, May 28th. The software maker reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. Digital Turbine had a negative net margin of 77.18% and a positive return on equity of 6.21%. The company had revenue of $112.22 million during the quarter, compared to analysts’ expectations of $118.30 million. As a group, equities analysts forecast that Digital Turbine will post 0.06 EPS for the current year.

Institutional Trading of Digital Turbine

Institutional investors have recently made changes to their positions in the stock. Pineridge Advisors LLC acquired a new stake in shares of Digital Turbine during the fourth quarter worth approximately $34,000. GAMMA Investing LLC acquired a new stake in shares of Digital Turbine during the fourth quarter worth approximately $43,000. Blue Trust Inc. boosted its holdings in shares of Digital Turbine by 87.6% during the fourth 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 during the period. Quadrature Capital Ltd acquired a new stake in shares of Digital Turbine during the first quarter worth approximately $28,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Digital Turbine by 194.3% during the third quarter. PNC Financial Services Group Inc. now owns 10,725 shares of the software maker’s stock worth $65,000 after purchasing an additional 7,081 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APPS. Craig Hallum lowered their price objective on shares of Digital Turbine from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Roth Mkm lowered their price objective on shares of Digital Turbine from $3.00 to $2.50 and set a “neutral” rating on the stock in a research note on Wednesday, May 29th. Finally, StockNews.com upgraded shares of Digital Turbine from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.17.

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.