Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Update

Digital Turbine, Inc. (NASDAQ:APPS) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 7,030,000 shares, a growth of 26.9% from the March 31st total of 5,540,000 shares. Based on an average daily trading volume, of 6,650,000 shares, the short-interest ratio is presently 1.1 days. Approximately 7.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Digital Turbine by 719.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock worth $1,191,000 after acquiring an additional 340,512 shares in the last quarter. Acuitas Investments LLC bought a new position in shares of Digital Turbine during the fourth quarter valued at approximately $140,000. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 181,032 shares in the last quarter. Barclays PLC grew its stake in shares of 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 last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of Digital Turbine in the 3rd quarter worth approximately $185,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Digital Turbine Trading Up 3.0 %

Shares of APPS opened at $3.10 on Friday. Digital Turbine has a 1-year low of $1.18 and a 1-year high of $6.86. The firm has a market capitalization of $325.52 million, a price-to-earnings ratio of -1.02 and a beta of 2.41. The firm’s 50-day moving average price is $3.06 and its 200-day moving average price is $2.70. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.50.

Digital Turbine (NASDAQ:APPS) 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%. Sell-side analysts anticipate that Digital Turbine will post -0.03 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.