Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Update

Zedge, Inc. (NYSEAMERICAN:ZDGE) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 899,066 shares, a growth of 10,036.0% from the November 30th total of 8,870 shares. Currently, 9.4% of the shares of the company are sold short. Based on an average daily trading volume, of 4,815,703 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 4,815,703 shares, the days-to-cover ratio is currently 0.2 days. Currently, 9.4% of the shares of the company are sold short.

Zedge Stock Performance

ZDGE stock traded down $0.17 during midday trading on Wednesday, reaching $3.58. 82,580 shares of the company traded hands, compared to its average volume of 308,576. The firm has a market capitalization of $44.68 million, a price-to-earnings ratio of -39.78 and a beta of 1.52. Zedge has a 52-week low of $1.73 and a 52-week high of $4.89. The business has a 50 day moving average of $2.79 and a 200-day moving average of $3.25.

Zedge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, October 24th were issued a dividend of $0.016 per share. This represents a $0.06 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, October 24th. Zedge’s dividend payout ratio is presently -8.96%.

Analyst Upgrades and Downgrades

Separately, UBS Group set a $6.00 price objective on shares of Zedge in a research report on Monday, December 15th.

Hedge Funds Weigh In On Zedge

Several hedge funds have recently bought and sold shares of ZDGE. Heron Bay Capital Management boosted its stake in shares of Zedge by 285.0% during the second quarter. Heron Bay Capital Management now owns 87,976 shares of the company’s stock valued at $353,000 after purchasing an additional 65,127 shares during the period. Marshall Wace LLP purchased a new stake in Zedge in the 2nd quarter valued at about $331,000. Ridgewood Investments LLC bought a new position in Zedge in the 2nd quarter worth about $322,000. Citadel Advisors LLC increased its position in shares of Zedge by 304.7% during the third quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after acquiring an additional 37,285 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in shares of Zedge during the second quarter valued at approximately $191,000. Institutional investors own 29.37% of the company’s stock.

About Zedge

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.