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

Digital Turbine, Inc. (NASDAQ:APPS) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 4,980,000 shares, a decrease of 17.0% from the December 31st total of 6,000,000 shares. Based on an average daily volume of 3,820,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 5.5% of the company’s stock are short sold.

Analyst Ratings Changes

Several equities research analysts recently issued reports on APPS shares. Macquarie decreased their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Craig Hallum decreased their price target on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Bank of America downgraded Digital Turbine from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $3.50 to $1.00 in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Digital Turbine has an average rating of “Hold” and a consensus target price of $2.38.

Insider Transactions at Digital Turbine

In other news, Director Robert M. Deutschman bought 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $1.41 per share, with a total value of $141,000.00. Following the completion of the transaction, the director now directly owns 571,216 shares of the company’s stock, valued at $805,414.56. This trade represents a 21.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought 127,000 shares of company stock valued at $175,610 over the last ninety days. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after buying an additional 4,167 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of Digital Turbine in the 3rd quarter valued at about $43,000. Creative Planning purchased a new stake in shares of Digital Turbine in the 3rd quarter valued at about $57,000. US Bancorp DE raised its holdings in shares of Digital Turbine by 37.7% in the 3rd quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock valued at $82,000 after acquiring an additional 7,266 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Digital Turbine in the 3rd quarter valued at about $84,000. Institutional investors own 63.66% of the company’s stock.

Digital Turbine Stock Performance

NASDAQ:APPS traded up $0.12 during trading on Friday, reaching $2.63. The company’s stock had a trading volume of 956,923 shares, compared to its average volume of 2,834,990. The firm has a market cap of $272.81 million, a price-to-earnings ratio of -0.88 and a beta of 2.34. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50 day moving average of $1.78 and a 200-day moving average of $2.43. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $5.79.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $118.70 million during the quarter, compared to the consensus estimate of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. Research analysts expect that Digital Turbine will post -0.13 EPS for the current fiscal year.

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.