Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Up 11.4% in November

Digital Turbine, Inc. (NASDAQ:APPS) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 5,480,000 shares, a growth of 11.4% from the October 31st total of 4,920,000 shares. Based on an average trading volume of 3,440,000 shares, the short-interest ratio is presently 1.6 days. Currently, 6.0% of the company’s stock are sold short.

Insider Activity

In related news, Director Robert M. Deutschman purchased 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $1.41 per share, with a total value of $141,000.00. Following the transaction, the director now directly owns 571,216 shares of the company’s stock, valued at $805,414.56. This trade represents a 21.22 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is owned by corporate insiders.

Institutional Trading of Digital Turbine

Several institutional investors have recently added to or reduced their stakes in APPS. Franklin Resources Inc. bought a new stake in Digital Turbine in the 3rd quarter valued at about $185,000. Barclays PLC raised its position in shares of Digital Turbine by 62.5% in the third quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock valued at $776,000 after buying an additional 97,196 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Digital Turbine by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after buying an additional 181,032 shares during the period. XTX Topco Ltd grew its position in Digital Turbine by 33.8% during the third quarter. XTX Topco Ltd now owns 169,868 shares of the software maker’s stock worth $521,000 after buying an additional 42,954 shares in the last quarter. Finally, Centiva Capital LP bought a new position in Digital Turbine during the 3rd quarter worth $262,000. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Stock Performance

Shares of NASDAQ:APPS traded up $0.01 on Monday, hitting $1.44. The company had a trading volume of 1,039,423 shares, compared to its average volume of 3,123,763. The stock has a market cap of $149.37 million, a price-to-earnings ratio of -0.49 and a beta of 2.59. The stock has a 50 day moving average price of $2.55 and a 200 day moving average price of $2.43. Digital Turbine has a 1-year low of $1.18 and a 1-year high of $7.33. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The company had revenue of $118.70 million during the quarter, compared to the consensus estimate of $125.85 million. During the same period in the prior year, the company earned $0.04 earnings per share. The firm’s revenue was down 17.1% compared to the same quarter last year. Analysts expect that Digital Turbine will post -0.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Macquarie lowered their target price on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Bank of America cut shares of Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Craig Hallum reduced their price target on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One research 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’s stock. According to MarketBeat.com, Digital Turbine presently has an average rating of “Hold” and a consensus target price of $2.38.

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.