Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Up 19.9% in April

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 6,560,000 shares, an increase of 19.9% from the March 31st total of 5,470,000 shares. Based on an average trading volume of 2,760,000 shares, the short-interest ratio is currently 2.4 days. Currently, 7.2% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research firms have issued reports on APPS. StockNews.com lowered shares of Digital Turbine from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Roth Mkm dropped their target price on shares of Digital Turbine from $5.50 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Finally, Craig Hallum lowered their price objective on shares of Digital Turbine from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Digital Turbine has an average rating of “Hold” and an average price target of $7.50.

Digital Turbine Stock Performance

Shares of NASDAQ:APPS opened at $1.82 on Monday. Digital Turbine has a 52-week low of $1.78 and a 52-week high of $14.61. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average of $2.60 and a two-hundred day moving average of $4.48.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Digital Turbine had a positive return on equity of 4.48% and a negative net margin of 34.53%. The company had revenue of $142.63 million for the quarter, compared to analyst estimates of $146.45 million. Sell-side analysts predict that Digital Turbine will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in shares of Digital Turbine by 153.8% during the third quarter. SG Americas Securities LLC now owns 73,019 shares of the software maker’s stock valued at $442,000 after purchasing an additional 44,248 shares in the last quarter. Oak Thistle LLC raised its stake in shares of Digital Turbine by 92.4% during the third quarter. Oak Thistle LLC now owns 19,897 shares of the software maker’s stock valued at $120,000 after purchasing an additional 9,557 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Digital Turbine by 13.3% during the third quarter. Commonwealth Equity Services LLC now owns 37,510 shares of the software maker’s stock valued at $227,000 after purchasing an additional 4,415 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Digital Turbine by 70.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,792 shares of the software maker’s stock valued at $102,000 after purchasing an additional 6,914 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Digital Turbine during the third quarter valued at about $3,557,000. 63.66% of the stock is currently owned by institutional investors.

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.