Short Interest in Zedge, Inc. (NYSEAMERICAN:ZDGE) Increases By 54.9%

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 15,800 shares, a growth of 54.9% from the October 15th total of 10,200 shares. Based on an average daily trading volume, of 59,800 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

Zedge Stock Performance

NYSEAMERICAN:ZDGE traded down $0.03 during midday trading on Friday, hitting $2.75. 15,937 shares of the company traded hands, compared to its average volume of 64,641. The firm has a market capitalization of $37.46 million, a PE ratio of -4.23 and a beta of 1.28. Zedge has a 12-month low of $1.70 and a 12-month high of $5.18.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZDGE. Renaissance Technologies LLC increased its holdings in Zedge by 2.9% during the 2nd quarter. Renaissance Technologies LLC now owns 505,014 shares of the company’s stock worth $1,540,000 after purchasing an additional 14,404 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Zedge by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 108,035 shares of the company’s stock valued at $330,000 after buying an additional 16,028 shares during the period. Heron Bay Capital Management raised its holdings in shares of Zedge by 45.6% in the second quarter. Heron Bay Capital Management now owns 53,762 shares of the company’s stock valued at $164,000 after acquiring an additional 16,838 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Zedge by 20.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 50,166 shares of the company’s stock worth $139,000 after acquiring an additional 8,625 shares during the period. Finally, FMR LLC grew its holdings in Zedge by 30.2% during the 3rd quarter. FMR LLC now owns 44,414 shares of the company’s stock worth $164,000 after acquiring an additional 10,293 shares in the last quarter. Hedge funds and other institutional investors own 29.37% of the company’s stock.

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.