Short Interest in Digital Turbine, Inc. (NASDAQ:APPS) Decreases By 25.8%

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 4,440,000 shares, a drop of 25.8% from the February 13th total of 5,980,000 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average trading volume of 6,500,000 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On Digital Turbine

A number of hedge funds have recently modified their holdings of APPS. US Bancorp DE lifted its holdings in shares of Digital Turbine by 37.7% during the third quarter. US Bancorp DE now owns 26,561 shares of the software maker's stock worth $82,000 after purchasing an additional 7,266 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Digital Turbine by 33.4% during the third quarter. Los Angeles Capital Management LLC now owns 210,370 shares of the software maker's stock worth $646,000 after purchasing an additional 52,640 shares during the period. Intech Investment Management LLC acquired a new position in shares of Digital Turbine during the third quarter worth $84,000. Centiva Capital LP acquired a new position in shares of Digital Turbine during the third quarter worth $262,000. Finally, XTX Topco Ltd lifted its holdings in shares of Digital Turbine by 33.8% during the third quarter. XTX Topco Ltd now owns 169,868 shares of the software maker's stock worth $521,000 after purchasing an additional 42,954 shares during the period. Institutional investors and hedge funds own 63.66% of the company's stock.

Digital Turbine Price Performance

NASDAQ:APPS traded down $0.01 during mid-day trading on Thursday, reaching $3.45. The stock had a trading volume of 3,104,258 shares, compared to its average volume of 4,073,479. The stock has a 50-day simple moving average of $3.35 and a two-hundred day simple moving average of $2.70. The stock has a market capitalization of $362.27 million, a PE ratio of -1.14 and a beta of 2.43. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $6.86. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.06.

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Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share 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%. On average, equities analysts anticipate that Digital Turbine will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Digital Turbine from a "sell" rating to a "hold" rating in a research note on Friday, March 14th. One investment 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. According to MarketBeat, Digital Turbine currently has an average rating of "Hold" and an average 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.