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

Digital Turbine, Inc. (NASDAQ:APPS) saw a significant drop in short interest in 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. Approximately 4.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,500,000 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Digital Turbine by 4.5% during the 4th 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 period. Two Sigma Advisers LP grew its position in shares of 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 buying an additional 7,100 shares during the period. US Bancorp DE grew its position in shares of Digital Turbine by 37.7% during the 3rd quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock worth $82,000 after buying an additional 7,266 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Digital Turbine by 28.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker’s stock worth $64,000 after buying an additional 8,426 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Digital Turbine by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker’s stock worth $46,000 after buying an additional 8,892 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Digital Turbine Price Performance

Shares of APPS stock opened at $3.83 on Tuesday. The stock has a 50-day moving average price of $3.29 and a 200 day moving average price of $2.69. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. The firm has a market cap of $402.18 million, a price-to-earnings ratio of -1.26 and a beta of 2.43. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $6.86.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 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%. Research analysts expect 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.