Zedge, Inc. (NYSEAMERICAN:ZDGE – Get Free Report) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 37,971 shares, a drop of 43.3% from the September 15th total of 66,926 shares. Based on an average daily trading volume, of 59,038 shares, the short-interest ratio is presently 0.6 days. Currently, 0.4% of the company’s stock are sold short.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Kahn Brothers Group Inc. acquired a new position in Zedge in the second quarter valued at approximately $242,000. NewEdge Advisors LLC boosted its holdings 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 period. Finally, Hillsdale Investment Management Inc. grew its holdings in Zedge by 1,982.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock worth $148,000 after acquiring an additional 48,221 shares in the last quarter. 29.37% of the stock is owned by hedge funds and other institutional investors.
Zedge Price Performance
NYSEAMERICAN:ZDGE traded up $0.04 during trading hours on Friday, hitting $2.78. 42,220 shares of the company were exchanged, compared to its average volume of 94,093. The company’s 50 day moving average price is $2.96 and its 200-day moving average price is $3.03. The stock has a market capitalization of $34.86 million, a price-to-earnings ratio of -30.89 and a beta of 1.20. Zedge has a 52-week low of $2.21 and a 52-week high of $4.70.
Zedge Company Profile
Zedge, Inc operates a digital content marketplace that enables users to discover, personalize and share content for mobile devices. Its flagship Zedge platform offers wallpapers, ringtones, notification sounds, app icons, fonts and other personalization products, including content created by independent artists and other members of its community.
The company provides its services through mobile applications and online platforms, with products available to users internationally. Zedge also offers premium digital content and tools designed to help creators distribute and monetize their work.
Founded in 2003, Zedge has expanded beyond mobile personalization through digital entertainment and creator-focused offerings.
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