Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Up 56.2% in December

Zedge, Inc. (NYSEAMERICAN:ZDGE) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 18,900 shares, an increase of 56.2% from the November 30th total of 12,100 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 91,300 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZDGE. Virtu Financial LLC bought a new stake in Zedge in the third quarter worth $44,000. FMR LLC grew its stake in shares of Zedge by 30.2% in the 3rd quarter. FMR LLC now owns 44,414 shares of the company’s stock worth $164,000 after buying an additional 10,293 shares in the last quarter. Heron Bay Capital Management increased its holdings in shares of Zedge by 45.6% in the 2nd quarter. Heron Bay Capital Management now owns 53,762 shares of the company’s stock worth $164,000 after buying an additional 16,838 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Zedge by 2.9% during the 2nd quarter. Renaissance Technologies LLC now owns 505,014 shares of the company’s stock valued at $1,540,000 after buying an additional 14,404 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Zedge by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 108,035 shares of the company’s stock valued at $330,000 after acquiring an additional 16,028 shares during the last quarter. Hedge funds and other institutional investors own 29.37% of the company’s stock.

Zedge Stock Down 9.3 %

Shares of NYSEAMERICAN ZDGE traded down $0.29 during mid-day trading on Monday, reaching $2.82. The company’s stock had a trading volume of 181,150 shares, compared to its average volume of 77,324. Zedge has a 52 week low of $1.93 and a 52 week high of $5.18. The firm has a market cap of $38.41 million, a price-to-earnings ratio of -4.34 and a beta of 1.23.

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

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.