Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Down 5.2% in October

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 4,920,000 shares, a drop of 5.2% from the October 15th total of 5,190,000 shares. Approximately 5.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,660,000 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Macquarie dropped their target price on Digital Turbine from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Craig Hallum lowered their price target on Digital Turbine from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Finally, Bank of America downgraded Digital Turbine from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $3.50 to $1.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $2.38.

Insider Activity at Digital Turbine

In other news, Director Robert M. Deutschman purchased 100,000 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of $1.41 per share, for a total transaction 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 position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Digital Turbine

A number of hedge funds have recently made changes to their positions in APPS. Blue Trust Inc. boosted its stake in shares of Digital Turbine by 104.1% in the third 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. Quadrature Capital Ltd purchased a new position in shares of Digital Turbine in the 1st quarter valued at $28,000. Ballentine Partners LLC purchased a new position in shares of Digital Turbine in the 3rd quarter valued at $43,000. SG Americas Securities LLC purchased a new position in shares of Digital Turbine in the 2nd quarter valued at $46,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Digital Turbine in the 1st quarter valued at $55,000. Institutional investors own 63.66% of the company's stock.

Digital Turbine Stock Performance

Digital Turbine stock traded down $0.06 during mid-day trading on Monday, reaching $1.26. 3,854,881 shares of the stock traded hands, compared to its average volume of 3,108,621. The stock has a market capitalization of $130.18 million, a PE ratio of -0.44, a price-to-earnings-growth ratio of 4.05 and a beta of 2.59. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09. Digital Turbine has a 12-month low of $1.22 and a 12-month high of $7.33. The business's 50-day moving average is $2.84 and its 200-day moving average is $2.49.

Digital Turbine (NASDAQ:APPS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $118.70 million during the quarter, compared to analysts' expectations of $125.85 million. Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The business's quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 EPS. As a group, sell-side analysts predict that Digital Turbine will post 0.05 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.