Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Up 56.2% in December

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 18,900 shares, an increase of 56.2% from the November 30th total of 12,100 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 91,300 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Zedge

Several institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Zedge during the 3rd quarter worth about $44,000. FMR LLC raised its holdings in shares of Zedge by 30.2% during the 3rd quarter. FMR LLC now owns 44,414 shares of the company’s stock valued at $164,000 after purchasing an additional 10,293 shares in the last quarter. Heron Bay Capital Management raised its holdings in shares of Zedge by 45.6% during the 2nd quarter. Heron Bay Capital Management now owns 53,762 shares of the company’s stock valued at $164,000 after purchasing an additional 16,838 shares in the last quarter. Renaissance Technologies LLC lifted its stake 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Zedge by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 108,035 shares of the company’s stock worth $330,000 after buying an additional 16,028 shares during the last quarter. Hedge funds and other institutional investors own 29.37% of the company’s stock.

Zedge Price Performance

Shares of NYSEAMERICAN ZDGE traded down $0.30 during midday trading on Monday, reaching $2.81. The company’s stock had a trading volume of 132,711 shares, compared to its average volume of 77,163. The company has a market capitalization of $38.27 million, a P/E ratio of -4.32 and a beta of 1.23. Zedge has a one year low of $1.93 and a one year high of $5.18.

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

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.