Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Up 6.4% in December

Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) was the recipient of a large increase in short interest in the month of December. As of December 30th, there was short interest totalling 5,490,000 shares, an increase of 6.4% from the December 15th total of 5,160,000 shares. Based on an average daily volume of 2,740,000 shares, the days-to-cover ratio is presently 2.0 days. Currently, 6.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds and other institutional investors have recently bought and sold shares of APPS. Advisors Asset Management Inc. increased its stake in shares of Digital Turbine by 1.8% in the 1st quarter. Advisors Asset Management Inc. now owns 27,375 shares of the software maker’s stock valued at $1,199,000 after buying an additional 495 shares during the period. Yousif Capital Management LLC increased its stake in shares of Digital Turbine by 1.4% in the 1st quarter. Yousif Capital Management LLC now owns 46,436 shares of the software maker’s stock valued at $2,034,000 after buying an additional 630 shares during the period. Royal Bank of Canada increased its stake in shares of Digital Turbine by 1.2% in the 3rd quarter. Royal Bank of Canada now owns 56,945 shares of the software maker’s stock valued at $820,000 after buying an additional 674 shares during the period. Cetera Investment Advisers increased its stake in shares of Digital Turbine by 5.5% in the 1st quarter. Cetera Investment Advisers now owns 13,123 shares of the software maker’s stock valued at $575,000 after buying an additional 687 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of Digital Turbine by 74.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,737 shares of the software maker’s stock valued at $25,000 after buying an additional 741 shares during the period. 62.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Oppenheimer decreased their target price on Digital Turbine from $32.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, October 4th. Bank of America assumed coverage on Digital Turbine in a research note on Monday, October 17th. They set a “buy” rating and a $24.00 target price for the company. Roth Capital decreased their target price on Digital Turbine from $32.00 to $20.00 in a research note on Monday, October 31st. Craig Hallum reduced their price objective on Digital Turbine from $60.00 to $30.00 in a research report on Thursday, November 10th. Finally, B. Riley reduced their price objective on Digital Turbine from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, October 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.83.

Digital Turbine Price Performance

Digital Turbine stock opened at $16.40 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $1.62 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 0.97 and a beta of 2.38. Digital Turbine has a one year low of $10.65 and a one year high of $55.68. The business has a 50 day simple moving average of $16.12 and a 200 day simple moving average of $17.06.

Digital Turbine (NASDAQ:APPS – Get Rating) last posted its earnings results on Wednesday, November 9th. The software maker reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. Digital Turbine had a return on equity of 26.56% and a net margin of 5.82%. The business had revenue of $174.86 million during the quarter, compared to the consensus estimate of $173.67 million. On average, sell-side analysts forecast that Digital Turbine will post 1.15 EPS for the current fiscal year.

Digital Turbine Company Profile

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Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).