Digital Turbine, Inc. (NASDAQ:APPS) Short Interest Up 8.4% in September

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 4,150,000 shares, an increase of 8.4% from the August 31st total of 3,830,000 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average daily trading volume, of 3,980,000 shares, the days-to-cover ratio is presently 1.0 days.

Digital Turbine Price Performance

NASDAQ:APPS opened at $3.07 on Tuesday. Digital Turbine has a 12-month low of $1.39 and a 12-month high of $7.32. The firm has a market capitalization of $314.70 million, a price-to-earnings ratio of -0.74 and a beta of 2.60. The stock’s 50 day moving average price is $2.91 and its two-hundred day moving average price is $2.34. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.01.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Digital Turbine by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 12,790,615 shares of the software maker’s stock worth $87,744,000 after buying an additional 543,160 shares in the last quarter. Quantbot Technologies LP boosted its holdings in Digital Turbine by 6,303.5% in the 1st quarter. Quantbot Technologies LP now owns 221,626 shares of the software maker’s stock valued at $581,000 after purchasing an additional 218,165 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Digital Turbine by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 780,252 shares of the software maker’s stock worth $5,353,000 after purchasing an additional 60,539 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Digital Turbine by 155.0% during the 1st quarter. GSA Capital Partners LLP now owns 306,870 shares of the software maker’s stock worth $804,000 after purchasing an additional 186,523 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Digital Turbine during the first quarter worth approximately $2,177,000. 63.66% of the stock is owned by institutional investors and hedge funds.

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.