Short Interest in Zedge, Inc. (NYSEAMERICAN:ZDGE) Grows By 188.4%

Zedge, Inc. (NYSEAMERICAN:ZDGEGet Free Report) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 70,643 shares, an increase of 188.4% from the August 15th total of 24,494 shares. Based on an average daily trading volume, of 125,497 shares, the short-interest ratio is presently 0.6 days. Approximately 0.7% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Zacks Research raised Zedge to a “hold” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.00.

View Our Latest Research Report on ZDGE

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZDGE. Kahn Brothers Group Inc. purchased a new stake in shares of Zedge in the second quarter valued at $242,000. NewEdge Advisors LLC increased its stake in Zedge by 2,923.0% in the first quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock valued at $173,000 after purchasing an additional 56,969 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Zedge by 1,982.8% in the first quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock valued at $148,000 after purchasing an additional 48,221 shares during the last quarter. Finally, Bailard Inc. lifted its position in Zedge by 51.1% during the fourth quarter. Bailard Inc. now owns 60,100 shares of the company’s stock worth $197,000 after buying an additional 20,337 shares during the period. Hedge funds and other institutional investors own 29.37% of the company’s stock.

Zedge Trading Down 4.2%

Shares of NYSEAMERICAN ZDGE traded down $0.13 during midday trading on Monday, reaching $2.97. 106,312 shares of the stock were exchanged, compared to its average volume of 99,699. The company has a market capitalization of $37.24 million, a P/E ratio of -33.00 and a beta of 1.22. Zedge has a 52-week low of $2.21 and a 52-week high of $4.70. The stock has a 50 day moving average price of $2.98 and a 200-day moving average price of $3.04.

Zedge (NYSEAMERICAN:ZDGEGet Free Report) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Zedge had a negative net margin of 3.62% and a positive return on equity of 11.18%. The business had revenue of $7.99 million for the quarter, compared to the consensus estimate of $7.00 million. On average, analysts forecast that Zedge will post 0.31 earnings per share for the current year.

About Zedge

(Get Free Report)

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.

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