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

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 899,066 shares, a growth of 10,036.0% from the November 30th total of 8,870 shares. Based on an average trading volume of 4,815,703 shares, the short-interest ratio is presently 0.2 days. Currently, 9.4% of the company’s shares are short sold. Currently, 9.4% of the company’s shares are short sold. Based on an average trading volume of 4,815,703 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Separately, UBS Group set a $6.00 price target on shares of Zedge in a report on Monday, December 15th.

Institutional Trading of Zedge

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Zedge in the second quarter worth approximately $40,000. Bailard Inc. bought a new position in shares of Zedge during the 2nd quarter worth $47,000. Squarepoint Ops LLC purchased a new position in shares of Zedge during the third quarter valued at $37,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Zedge in the third quarter valued at about $87,000. Finally, Corsair Capital Management L.P. purchased a new stake in Zedge in the second quarter worth about $128,000. Institutional investors own 29.37% of the company’s stock.

Zedge Trading Down 4.5%

NYSEAMERICAN:ZDGE opened at $3.58 on Friday. The company has a market cap of $44.68 million, a price-to-earnings ratio of -39.78 and a beta of 1.52. Zedge has a twelve month low of $1.73 and a twelve month high of $4.89. The stock has a fifty day simple moving average of $2.80 and a 200-day simple moving average of $3.25.

Zedge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, October 24th were given a $0.016 dividend. This represents a $0.06 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, October 24th. Zedge’s payout ratio is -8.96%.

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.