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

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 4,980,000 shares, a drop of 17.0% from the December 15th total of 6,000,000 shares. Based on an average trading volume of 3,820,000 shares, the short-interest ratio is presently 1.3 days. Currently, 5.5% of the shares of the company are short sold.

Digital Turbine Stock Up 2.3 %

Shares of Digital Turbine stock traded up $0.05 during trading on Friday, reaching $2.02. 1,300,587 shares of the company traded hands, compared to its average volume of 2,840,358. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $209.02 million, a PE ratio of -0.68 and a beta of 2.34. The company has a 50 day moving average price of $1.60 and a 200-day moving average price of $2.40. Digital Turbine has a 1-year low of $1.18 and a 1-year high of $6.03.

Digital Turbine (NASDAQ:APPS) last released 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 company had revenue of $118.70 million for the quarter, compared to the consensus estimate of $125.85 million. Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. Digital Turbine’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. As a group, equities research analysts expect that Digital Turbine will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on APPS. Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $3.50 to $1.00 in a report on Friday, November 15th. Macquarie reduced their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a report 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 on the stock in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.38.

Insiders Place Their Bets

In other Digital Turbine news, Director Robert M. Deutschman bought 100,000 shares of Digital Turbine stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $1.41 per share, with a total value of $141,000.00. Following the completion of the transaction, the director now owns 571,216 shares in the company, valued at $805,414.56. The trade was a 21.22 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased 127,000 shares of company stock worth $175,610 over the last three months. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Digital Turbine by 104.1% during the third 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 position in shares of Digital Turbine in the 3rd quarter worth approximately $43,000. Creative Planning bought a new position in shares of Digital Turbine in the third quarter valued at approximately $57,000. The Manufacturers Life Insurance Company lifted its holdings in Digital Turbine by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after acquiring an additional 3,695 shares during the period. Finally, Point72 DIFC Ltd increased its holdings in Digital Turbine by 18.4% during the second quarter. Point72 DIFC Ltd now owns 44,603 shares of the software maker’s stock worth $74,000 after buying an additional 6,936 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.