Short Interest in Zedge, Inc. (NYSEAMERICAN:ZDGE) Increases By 10,036.0%

Zedge, Inc. (NYSEAMERICAN:ZDGE) saw a large growth in short interest in 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. Currently, 9.4% of the company’s shares are sold short. Based on an average daily volume of 4,815,703 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 4,815,703 shares, the days-to-cover ratio is currently 0.2 days. Currently, 9.4% of the company’s shares are sold short.

Zedge Stock Down 4.5%

Shares of NYSEAMERICAN ZDGE traded down $0.17 during trading hours on Wednesday, hitting $3.58. 82,580 shares of the stock were exchanged, compared to its average volume of 308,576. Zedge has a 12 month low of $1.73 and a 12 month high of $4.89. The firm has a fifty day moving average price of $2.79 and a 200-day moving average price of $3.25. The company has a market cap of $44.68 million, a PE ratio of -39.78 and a beta of 1.52.

Zedge Announces Dividend

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

Hedge Funds Weigh In On Zedge

Hedge funds and other institutional investors have recently modified their holdings of the stock. Heron Bay Capital Management increased its stake in shares of Zedge by 285.0% in the second quarter. Heron Bay Capital Management now owns 87,976 shares of the company’s stock worth $353,000 after acquiring an additional 65,127 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Zedge during the 2nd quarter valued at approximately $322,000. Corsair Capital Management L.P. acquired a new stake in Zedge in the 2nd quarter valued at $128,000. Bailard Inc. increased its position in shares of Zedge by 238.5% during the third quarter. Bailard Inc. now owns 39,763 shares of the company’s stock worth $116,000 after purchasing an additional 28,016 shares in the last quarter. Finally, Welch Group LLC raised its holdings in Zedge by 274.9% in the 3rd quarter. Welch Group LLC now owns 45,671 shares of the company’s stock valued at $133,000 after acquiring an additional 33,488 shares during the last quarter. 29.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Zedge Company Profile

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.