Short Interest in Zedge, Inc. (NYSEAMERICAN:ZDGE) Grows By 54.9%

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 15,800 shares, an increase of 54.9% from the October 15th total of 10,200 shares. Based on an average trading volume of 59,800 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Zedge Stock Down 2.1 %

NYSEAMERICAN ZDGE traded down $0.06 during trading on Thursday, reaching $2.74. 19,162 shares of the company’s stock were exchanged, compared to its average volume of 66,473. The company has a market cap of $37.32 million, a PE ratio of 56.80 and a beta of 1.28. Zedge has a fifty-two week low of $1.70 and a fifty-two week high of $5.18.

Zedge (NYSEAMERICAN:ZDGE) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter. Zedge had a negative net margin of 30.48% and a positive return on equity of 2.74%. The business had revenue of $7.58 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Heron Bay Capital Management acquired a new position in shares of Zedge in the 1st quarter valued at approximately $102,000. B. Riley Wealth Advisors Inc. raised its position in Zedge by 20.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 50,166 shares of the company’s stock valued at $139,000 after purchasing an additional 8,625 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Zedge during the second quarter worth $51,000. Dimensional Fund Advisors LP lifted its stake in Zedge by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 108,035 shares of the company’s stock worth $330,000 after purchasing an additional 16,028 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Zedge by 2.9% in the 2nd quarter. Renaissance Technologies LLC now owns 505,014 shares of the company’s stock valued at $1,540,000 after purchasing an additional 14,404 shares in the last quarter. Institutional investors and hedge funds own 29.37% of the company’s stock.

About Zedge

Zedge, Inc builds digital marketplaces and competitive games around content that people use to express themselves. It offers the Zedge Ringtones and Wallpapers app, a freemium digital content marketplace that provides a wide array of mobile personalization content, including mobile phone wallpapers, video wallpapers, ringtones, and notification sounds.