Digital Turbine, Inc. (NASDAQ:APPS) Sees Large Growth in Short Interest

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 5,500,000 shares, an increase 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 short-interest ratio is currently 0.8 days. Approximately 6.1% of the company's stock are sold short.

Digital Turbine Stock Down 12.5 %

NASDAQ:APPS traded down $0.37 on Thursday, reaching $2.59. 3,158,925 shares of the stock traded hands, compared to its average volume of 4,143,744. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.50. The company has a market capitalization of $271.97 million, a price-to-earnings ratio of -0.85 and a beta of 2.47. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $6.86. The company's fifty day simple moving average is $3.63 and its 200 day simple moving average is $2.72.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings data 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%. Equities analysts predict that Digital Turbine will post -0.03 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Digital Turbine from a "hold" rating to a "sell" rating in a research note on Monday, March 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $2.38.

Hedge Funds Weigh In On Digital Turbine

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP raised its holdings in shares of Digital Turbine by 0.4% during the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker's stock valued at $2,775,000 after purchasing an additional 7,100 shares during the last quarter. Two Sigma Investments LP raised its stake in Digital Turbine by 19.1% during the 4th quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker's stock valued at $3,559,000 after buying an additional 337,959 shares during the last quarter. ProShare Advisors LLC raised its stake in Digital Turbine by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock valued at $46,000 after buying an additional 8,892 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Digital Turbine by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,090 shares of the software maker's stock valued at $93,000 after buying an additional 2,356 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of Digital Turbine in the 4th quarter worth $54,000. Institutional investors own 63.66% of the company's stock.

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.