In the month of April, short interest in Digital Turbine, Inc. (NASDAQ: APPS) fell significantly. Short interest totalled 4,210,000 shares as of April 15, down 16.6% compared to the March 31 figure of 5,050,000 shares. Moreover, short sales account for about 5.1% of the APPS stock. Currently, the short-interest ratio is 1.2 days, calculated on an average daily share volume of 3,520,000 shares. In addition, the stock has been losing value today’s trading session as well.
On Thursday, the APPS stock opened at $34.46. Currently, the Digital Turbine stock has a market capitalization of $3.03 billion, a beta of 2.22 a price-to-earnings ratio of 69.61, a price-to-earnings-to-growth ratio of 0.36. Moreover, quick ratio, the debt-to-equity ratio, and current ratio of the firm are all 0.70. The APPS stock’s fifty-day and 200-day moving averages are $39.26 and $51.11, respectively. Digital Turbine has traded between $30.61 and $93.98 in the last year.
On April 27, 2022, the company announced a multiyear partnership leveraging Digital Turbine’s full ad-stack across three areas: app distribution, audience development and in-app monetization solutions. Digital Turbine is to be the preferred global distributor of AccuWeather apps for native on-device inventory. Additionally, AccuWeather’s portfolio of weather and weather-related content will be a preferred source for editorial placements within Digital Turbine’s Content Media Solutions.
To support AccuWeather’s monetization goals, Digital Turbine’s ad mediation and brand demand on both iOS and Android devices strategically expand the partnership. App distribution is set to launch in Q2 2022.
The APPS stock was down by 9.49% and traded at $31.23 (losing 3.23 points) at 2:21 p.m. EDT in the market trading session today. The share volume traded for the stock was 1,557,849, much lesser than the average share volume of 3,238,311. Today’s low was $30.75 and indicates that the APPS stock is nearing its 52-week low of $30.61.