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

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,980,000 shares, a decrease of 17.0% from the December 15th 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. Currently, 5.5% of the shares of the company are sold short.

Insider Buying and Selling at Digital Turbine

In related news, Director Robert M. Deutschman purchased 100,000 shares of the business's stock in a transaction that occurred on 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 acquisition, the director now owns 571,216 shares of the company's stock, valued at $805,414.56. This represents a 21.22 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired 127,000 shares of company stock worth $175,610 in the last quarter. 5.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in APPS. Geode Capital Management LLC increased its position in shares of Digital Turbine by 8.4% during the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker's stock valued at $7,169,000 after buying an additional 181,032 shares during the period. Rice Hall James & Associates LLC increased its holdings in Digital Turbine by 4.1% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker's stock worth $6,051,000 after acquiring an additional 77,185 shares during the period. AQR Capital Management LLC increased its holdings in Digital Turbine by 97.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker's stock worth $2,546,000 after acquiring an additional 755,707 shares during the period. JPMorgan Chase & Co. lifted its stake in Digital Turbine by 719.6% in the 3rd 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 in the last quarter. Finally, Brooktree Capital Management boosted its holdings in Digital Turbine by 7.4% in the 3rd quarter. Brooktree Capital Management now owns 365,621 shares of the software maker's stock valued at $1,122,000 after purchasing an additional 25,061 shares during the period. Institutional investors own 63.66% of the company's stock.

Digital Turbine Stock Performance

Shares of APPS traded up $0.03 during trading hours on Friday, hitting $2.00. The company's stock had a trading volume of 2,649,884 shares, compared to its average volume of 2,965,585. The business has a 50 day simple moving average of $1.60 and a two-hundred day simple moving average of $2.40. Digital Turbine has a 52-week low of $1.18 and a 52-week high of $6.03. 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 company has a market cap of $207.46 million, a price-to-earnings ratio of -0.68 and a beta of 2.34.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share 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 analysts' expectations 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 quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, equities analysts expect that Digital Turbine will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on APPS. Macquarie lowered their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. Craig Hallum lowered their price target on shares of 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 lowered 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 report on Friday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.