Short Interest in Digital Turbine, Inc. (NASDAQ:APPS) Grows By 8.4%

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 4,150,000 shares, a growth of 8.4% from the August 31st total of 3,830,000 shares. Based on an average daily trading volume, of 3,980,000 shares, the short-interest ratio is presently 1.0 days. Approximately 4.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in APPS. Vanguard Group Inc. increased its position in Digital Turbine by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 12,790,615 shares of the software maker’s stock valued at $87,744,000 after buying an additional 543,160 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Digital Turbine by 6,303.5% in the 1st quarter. Quantbot Technologies LP now owns 221,626 shares of the software maker’s stock worth $581,000 after buying an additional 218,165 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Digital Turbine by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 780,252 shares of the software maker’s stock worth $5,353,000 after buying an additional 60,539 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Digital Turbine by 155.0% in the 1st quarter. GSA Capital Partners LLP now owns 306,870 shares of the software maker’s stock worth $804,000 after buying an additional 186,523 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Digital Turbine during the first quarter valued at $2,177,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Stock Performance

Shares of NASDAQ:APPS traded up $0.14 during midday trading on Friday, reaching $3.14. 3,640,342 shares of the company traded hands, compared to its average volume of 2,938,417. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.01. Digital Turbine has a 12 month low of $1.39 and a 12 month high of $7.32. The firm has a market capitalization of $321.87 million, a price-to-earnings ratio of -0.76 and a beta of 2.60. The firm’s fifty day moving average price is $2.91 and its two-hundred day moving average price is $2.35.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $117.99 million for the quarter, compared to analyst estimates of $115.23 million. Digital Turbine had a positive return on equity of 5.37% and a negative net margin of 84.71%. The company’s revenue was down 19.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS.

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.