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

Digital Turbine, Inc. (NASDAQ:APPS) saw a significant drop in short interest in 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. Currently, 4.9% of the company’s stock are sold short. Based on an average daily 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 institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Digital Turbine by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,090 shares of the software maker’s stock worth $93,000 after buying an additional 2,356 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Digital Turbine by 0.4% during the 4th quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker’s stock worth $2,775,000 after acquiring an additional 7,100 shares in the last quarter. US Bancorp DE increased its position in shares of Digital Turbine by 37.7% in the 3rd 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 last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Digital Turbine by 28.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker’s stock valued at $64,000 after purchasing an additional 8,426 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Digital Turbine by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker’s stock worth $46,000 after purchasing an additional 8,892 shares during the last quarter. 63.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Digital Turbine from a “sell” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Price Performance

APPS opened at $3.35 on Monday. Digital Turbine has a twelve month low of $1.18 and a twelve month high of $6.86. 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 firm has a market cap of $351.77 million, a price-to-earnings ratio of -1.11 and a beta of 2.43. The company has a fifty day simple moving average of $3.29 and a 200 day simple moving average of $2.69.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (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%. Equities research analysts expect that Digital Turbine will post -0.03 EPS for the current fiscal year.

Digital Turbine Company Profile

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.