By otakuyassine3@gmail.com 
Digital Turbine, Inc. (NASDAQ:APPS – Get Free Report) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 6,020,000 shares, an increase of 9.9% from the November 15th total of 5,480,000 shares. Based on an average trading volume of 3,440,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 6.6% of the shares of the company are short sold.
Digital Turbine Price Performance
APPS opened at $1.43 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.24. The business has a fifty day moving average of $2.28 and a 200 day moving average of $2.37. Digital Turbine has a 52-week low of $1.18 and a 52-week high of $7.33. The stock has a market cap of $148.33 million, a P/E ratio of -0.48 and a beta of 2.37.
Digital Turbine (NASDAQ:APPS – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The company had revenue of $118.70 million during the quarter, compared to the consensus estimate of $125.85 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Digital Turbine will post -0.13 EPS for the current year.
Insider Buying and Selling at Digital Turbine
In other news, Director Robert M. Deutschman bought 100,000 shares of Digital Turbine stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $1.41 per share, with a total value of $141,000.00. Following the acquisition, the director now owns 571,216 shares of the company’s stock, valued at $805,414.56. The trade was a 21.22 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have bought 127,000 shares of company stock valued at $175,610. 5.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On Digital Turbine
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Digital Turbine during the 2nd quarter worth $46,000. Assenagon Asset Management S.A. purchased a new position in shares of Digital Turbine during the second quarter valued at $589,000. Rhumbline Advisers raised its holdings in shares of Digital Turbine by 3.9% in the second quarter. Rhumbline Advisers now owns 152,877 shares of the software maker’s stock valued at $254,000 after acquiring an additional 5,734 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Digital Turbine by 35.0% in the second quarter. Los Angeles Capital Management LLC now owns 157,730 shares of the software maker’s stock worth $262,000 after acquiring an additional 40,914 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Digital Turbine during the 2nd quarter worth about $594,000. 63.66% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
APPS has been the subject of several research analyst reports. Bank of America cut Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price target for the company from $3.50 to $1.00 in a report on Friday, November 15th. Craig Hallum reduced their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Macquarie lowered their price target on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $2.38.
Check Out Our Latest Analysis on Digital Turbine
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.
Read More
Receive News & Ratings for Digital Turbine Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Digital Turbine and related companies with MarketBeat.com’s FREE daily email newsletter.