Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Up 23.9% in March

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 5,500,000 shares, a growth of 23.9% from the February 28th total of 4,440,000 shares. Based on an average daily trading volume, of 6,850,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 6.1% of the shares of the company are short sold.

Digital Turbine Stock Performance

APPS traded down $0.24 during trading on Friday, hitting $2.35. The company's stock had a trading volume of 4,894,760 shares, compared to its average volume of 4,176,395. The business's 50 day simple moving average is $3.64 and its 200-day simple moving average is $2.72. The firm has a market cap of $246.77 million, a PE ratio of -0.78 and a beta of 2.47. Digital Turbine has a one year low of $1.18 and a one year high of $6.86. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its earnings results on Wednesday, February 5th. The software maker reported $0.05 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 predict that Digital Turbine will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in APPS. JPMorgan Chase & Co. lifted its holdings in Digital Turbine by 719.6% during the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker's stock valued at $1,191,000 after purchasing an additional 340,512 shares in the last quarter. Acuitas Investments LLC purchased a new position in shares of Digital Turbine during the 4th quarter valued at $140,000. Geode Capital Management LLC boosted its holdings in Digital Turbine by 8.4% in the 3rd 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. Barclays PLC boosted its holdings in Digital Turbine by 62.5% in the 3rd quarter. Barclays PLC now owns 252,673 shares of the software maker's stock worth $776,000 after buying an additional 97,196 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in Digital Turbine in the 3rd quarter worth $185,000. 63.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Digital Turbine from a "hold" rating to a "sell" rating in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently 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.