Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Down 25.8% in February

Digital Turbine, Inc. (NASDAQ:APPS) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 4,440,000 shares, a decline of 25.8% from the February 13th total of 5,980,000 shares. Based on an average daily volume of 6,500,000 shares, the short-interest ratio is currently 0.7 days. Currently, 4.9% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Digital Turbine

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Digital Turbine by 719.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock worth $1,191,000 after purchasing an additional 340,512 shares in the last quarter. Acuitas Investments LLC bought a new stake in shares of Digital Turbine during the 4th quarter worth approximately $140,000. Geode Capital Management LLC raised its stake in shares of Digital Turbine by 8.4% during 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 raised its stake in shares of Digital Turbine by 62.5% during the 3rd quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock worth $776,000 after purchasing an additional 97,196 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Digital Turbine during the 3rd quarter worth approximately $185,000. Institutional investors own 63.66% of the company’s stock.

Digital Turbine Trading Up 14.3 %

NASDAQ APPS opened at $3.83 on Tuesday. The stock has a market capitalization of $402.18 million, a price-to-earnings ratio of -1.26 and a beta of 2.43. The stock’s 50 day moving average price is $3.29 and its two-hundred day moving average price is $2.69. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.06 and a current ratio of 1.06. Digital Turbine has a 52 week low of $1.18 and a 52 week high of $6.86.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. As a group, analysts anticipate that Digital Turbine will post -0.03 earnings per share for the current fiscal 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.