Zedge (NYSEAMERICAN:ZDGE) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?

Shares of Zedge, Inc. (NYSEAMERICAN:ZDGE) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.05 and traded as low as $2.60. Zedge shares last traded at $2.75, with a volume of 90,043 shares changing hands.

Zedge Price Performance

The company has a market cap of $34.07 million, a PE ratio of -16.06 and a beta of 1.51. The business’s fifty day simple moving average is $3.05 and its two-hundred day simple moving average is $3.20.

Zedge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, October 24th were issued a dividend of $0.016 per share. The ex-dividend date of this dividend was Friday, October 24th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.3%. Zedge’s dividend payout ratio is presently -8.96%.

Institutional Investors Weigh In On Zedge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in shares of Zedge during the 2nd quarter worth about $331,000. Ridgewood Investments LLC acquired a new position in Zedge in the second quarter valued at about $322,000. Heron Bay Capital Management boosted its stake in Zedge by 285.0% during the second quarter. Heron Bay Capital Management now owns 87,976 shares of the company’s stock worth $353,000 after buying an additional 65,127 shares during the period. NewEdge Advisors LLC purchased a new position in Zedge during the second quarter worth about $191,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of Zedge during the first quarter valued at about $84,000. Hedge funds and other institutional investors 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.