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

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 6,020,000 shares, an increase of 9.9% from the November 15th total of 5,480,000 shares. Based on an average daily trading volume, of 3,440,000 shares, the short-interest ratio is presently 1.8 days. Approximately 6.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

APPS has been the topic of a number of recent research reports. Bank of America cut Digital Turbine from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $3.50 to $1.00 in a report on Friday, November 15th. Macquarie decreased their price target on Digital Turbine from $3.00 to $2.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Finally, Craig Hallum dropped their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. One 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $2.38.

Insider Activity at Digital Turbine

In other Digital Turbine news, Director Robert M. Deutschman bought 100,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the acquisition, the director now owns 571,216 shares in the company, valued at approximately $805,414.56. This represents a 21.22 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have bought 127,000 shares of company stock valued at $175,610. Corporate insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APPS. Geode Capital Management LLC raised its position in Digital Turbine by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker's stock worth $7,169,000 after acquiring an additional 181,032 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of 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 valued at $6,051,000 after acquiring an additional 77,185 shares during the last quarter. AQR Capital Management LLC raised its holdings in Digital Turbine by 97.1% in 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. Brooktree Capital Management grew its stake in shares of Digital Turbine by 7.4% in the third quarter. Brooktree Capital Management now owns 365,621 shares of the software maker's stock worth $1,122,000 after acquiring an additional 25,061 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Digital Turbine during the second quarter valued at about $594,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Stock Up 0.7 %

Shares of NASDAQ:APPS traded up $0.01 during trading hours on Friday, reaching $1.43. The stock had a trading volume of 1,603,747 shares, compared to its average volume of 3,087,114. Digital Turbine has a 1 year low of $1.18 and a 1 year high of $7.33. The stock has a market capitalization of $148.33 million, a price-to-earnings ratio of -0.48 and a beta of 2.37. 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's 50 day moving average is $2.28 and its 200-day moving average is $2.37.

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

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.