Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Update

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 10,700 shares, a decline of 58.4% from the March 15th total of 25,700 shares. Based on an average daily trading volume, of 55,300 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On Zedge

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in Zedge by 30.2% in the third quarter. FMR LLC now owns 44,414 shares of the company’s stock valued at $164,000 after acquiring an additional 10,293 shares in the last quarter. Virtu Financial LLC purchased a new position in Zedge during the third quarter valued at $44,000. Welch Group LLC bought a new stake in Zedge in the first quarter worth $29,000. XTX Topco Ltd purchased a new stake in Zedge during the 4th quarter valued at about $40,000. Finally, Jane Street Group LLC bought a new position in shares of Zedge in the fourth quarter worth approximately $53,000. Institutional investors own 29.37% of the company’s stock.

Zedge Stock Up 7.7 %

Shares of ZDGE opened at $2.09 on Wednesday. Zedge has a 1 year low of $1.73 and a 1 year high of $4.37. The company has a market capitalization of $28.47 million, a price-to-earnings ratio of -3.12 and a beta of 1.25.

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.