Digital Turbine, Inc. (NASDAQ:APPS) Sees Significant Increase in Short Interest

Digital Turbine, Inc. (NASDAQ:APPS) was the target of a large growth in short interest in 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. Currently, 4.6% of the shares of the stock are short sold. Based on an average trading volume of 3,980,000 shares, the short-interest ratio is currently 1.0 days.

Digital Turbine Stock Performance

Shares of NASDAQ:APPS opened at $3.07 on Tuesday. Digital Turbine has a 1 year low of $1.39 and a 1 year high of $7.32. The stock has a market capitalization of $314.70 million, a price-to-earnings ratio of -0.74 and a beta of 2.60. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day simple moving average is $2.91 and its 200 day simple moving average is $2.34.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of APPS. Pineridge Advisors LLC acquired a new stake in shares of Digital Turbine in the 4th quarter valued at approximately $34,000. Quadrature Capital Ltd bought a new stake in shares of Digital Turbine during the first quarter worth $28,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Digital Turbine during the first quarter worth $55,000. SG Americas Securities LLC bought a new position in shares of Digital Turbine in the 2nd quarter valued at $46,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Digital Turbine by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock valued at $68,000 after acquiring an additional 3,695 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.