Zedge (NYSEAMERICAN:ZDGE) Stock Price Passes Below Fifty Day Moving Average – Time to Sell?

Zedge, Inc. (NYSEAMERICAN:ZDGE)’s stock price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.08 and traded as low as $2.94. Zedge shares last traded at $2.98, with a volume of 92,075 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Zedge to a “hold” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.00.

Zedge Stock Performance

The business has a 50 day moving average of $3.08 and a two-hundred day moving average of $3.11. The firm has a market capitalization of $37.37 million, a price-to-earnings ratio of -33.11 and a beta of 1.22.

Zedge (NYSEAMERICAN:ZDGE) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $7.99 million during the quarter, compared to analysts’ expectations of $7.00 million. Zedge had a positive return on equity of 11.18% and a negative net margin of 3.62%. On average, equities analysts predict that Zedge, Inc. will post 0.31 EPS for the current fiscal year.

Zedge Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Zedge during the second quarter valued at about $40,000. Squarepoint Ops LLC acquired a new stake in shares of Zedge in the 3rd quarter worth about $37,000. Arrowstreet Capital Limited Partnership bought a new position in Zedge in the 3rd quarter valued at about $87,000. Goldman Sachs Group Inc. lifted its position in Zedge by 35.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock valued at $138,000 after acquiring an additional 11,022 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in Zedge during the 2nd quarter valued at about $191,000. Institutional investors and hedge funds own 29.37% of the company’s stock.

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.