Zedge, Inc. (NYSEAMERICAN:ZDGE) Sees Large Decrease in Short Interest

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 38,035 shares, a decrease of 47.0% from the June 15th total of 71,719 shares. Based on an average trading volume of 147,205 shares, the short-interest ratio is presently 0.3 days. Approximately 0.4% of the shares of the stock are short sold.

Zedge Stock Down 4.8%

NYSEAMERICAN:ZDGE traded down $0.15 on Thursday, reaching $2.97. The stock had a trading volume of 135,355 shares, compared to its average volume of 87,794. The company has a market capitalization of $37.24 million, a P/E ratio of -33.00 and a beta of 1.20. Zedge has a 1-year low of $2.21 and a 1-year high of $4.89. The stock has a fifty day moving average price of $3.08 and a 200-day moving average price of $3.15.

Zedge (NYSEAMERICAN:ZDGE) last posted its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $7.99 million during the quarter, compared to analyst estimates of $7.00 million. Zedge had a negative net margin of 3.62% and a positive return on equity of 11.18%. Sell-side analysts predict that Zedge will post 0.31 earnings per share for the current fiscal year.

Zedge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a $0.02 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.08 annualized dividend and a yield of 2.7%. Zedge’s payout ratio is presently -11.94%.

Hedge Funds Weigh In On Zedge

Institutional investors and hedge funds have recently bought and sold shares of the business. HRT Financial LP acquired a new stake in shares of Zedge in the fourth quarter valued at $158,000. Goldman Sachs Group Inc. raised its holdings in shares of Zedge by 35.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock valued at $138,000 after buying an additional 11,022 shares during the last quarter. Citadel Advisors LLC lifted its position in Zedge by 304.7% during the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after buying an additional 37,285 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Zedge during the 3rd quarter worth about $87,000. Finally, NewEdge Advisors LLC bought a new stake in Zedge during the 2nd quarter worth about $191,000. Institutional investors and hedge funds own 29.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.