Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Down 44.6% in January

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 3,030,000 shares, a drop of 44.6% from the January 15th total of 5,470,000 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average trading volume of 6,550,000 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of Digital Turbine

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in 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 worth $7,169,000 after buying an additional 181,032 shares during the period. Bank of America Corp DE lifted its holdings in shares of Digital Turbine by 55.6% during the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock valued at $3,427,000 after acquiring an additional 724,297 shares in the last quarter. Rice Hall James & Associates LLC boosted its position 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 purchasing an additional 77,185 shares during the period. Marshall Wace LLP acquired a new stake in Digital Turbine in the 4th quarter valued at $1,698,000. Finally, Charles Schwab Investment Management Inc. raised its position in Digital Turbine by 14.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 886,508 shares of the software maker's stock valued at $1,498,000 after purchasing an additional 110,427 shares during the period. Institutional investors and hedge funds own 63.66% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Craig Hallum cut their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. StockNews.com raised Digital Turbine from a "sell" rating to a "hold" rating in a research note on Wednesday, February 12th. Bank of America cut Digital Turbine from a "neutral" rating to an "underperform" rating and decreased their price objective for the stock from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Macquarie dropped their target price 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Digital Turbine currently has a consensus rating of "Hold" and an average price target of $2.38.

Digital Turbine Trading Down 5.1 %

Shares of NASDAQ APPS traded down $0.33 during trading on Monday, hitting $6.19. 5,821,648 shares of the company traded hands, compared to its average volume of 8,750,329. The firm has a market capitalization of $650.01 million, a P/E ratio of -2.04 and a beta of 2.38. The company has a quick ratio of 1.09, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. The company has a 50-day moving average price of $2.46 and a 200-day moving average price of $2.61. Digital Turbine has a 1 year low of $1.18 and a 1 year high of $6.86.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted 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 negative net margin of 64.06% and a positive return on equity of 3.41%. On average, equities analysts predict that Digital Turbine will post -0.13 EPS for the current 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.