Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Up 97.4% in February

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 5,980,000 shares, an increase of 97.4% from the January 31st total of 3,030,000 shares. Based on an average daily volume of 6,300,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 6.6% of the company's stock are short sold.

Digital Turbine Stock Performance

NASDAQ APPS traded down $0.01 during trading hours on Tuesday, hitting $3.17. The company's stock had a trading volume of 2,809,580 shares, compared to its average volume of 4,094,169. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $6.86. The company's 50 day simple moving average is $3.05 and its two-hundred day simple moving average is $2.74. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $332.35 million, a P/E ratio of -1.04 and a beta of 2.38.

Digital Turbine (NASDAQ:APPS - Get Free Report) 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 positive return on equity of 3.41% and a negative net margin of 64.06%. As a group, sell-side analysts expect that Digital Turbine will post -0.03 EPS for the current fiscal year.

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Institutional Investors Weigh In On Digital Turbine

Several hedge funds and other institutional investors have recently modified their holdings of APPS. Marshall Wace LLP purchased a new position in shares of Digital Turbine during the 4th quarter valued at about $1,698,000. Bank of America Corp DE lifted its holdings in Digital Turbine by 55.6% during the fourth quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock valued at $3,427,000 after purchasing an additional 724,297 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Digital Turbine by 719.6% in the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker's stock worth $1,191,000 after purchasing an additional 340,512 shares during the period. Two Sigma Investments LP increased its stake in shares of Digital Turbine by 19.1% in the fourth quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker's stock worth $3,559,000 after purchasing an additional 337,959 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Digital Turbine during the 4th quarter valued at $490,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on APPS. Craig Hallum reduced their price objective on Digital Turbine from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Macquarie reduced 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. StockNews.com raised Digital Turbine from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Bank of America lowered shares of Digital Turbine from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $3.50 to $1.00 in a research note on Friday, November 15th. One investment 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, Digital Turbine currently has an average rating of "Hold" and a consensus 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.