Zedge (NYSEAMERICAN:ZDGE) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Zedge, Inc. (NYSEAMERICAN:ZDGE) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $0.00 and traded as high as $2.83. Zedge shares last traded at $2.78, with a volume of 21,006 shares changing hands.

Zedge Trading Down 1.1 %

The firm has a market cap of $37.86 million, a price-to-earnings ratio of -4.15 and a beta of 1.24.

Zedge (NYSEAMERICAN:ZDGE) last announced its earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $7.58 million for the quarter. Zedge had a positive return on equity of 1.55% and a negative net margin of 31.44%.

Institutional Trading of Zedge

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of Zedge by 17.4% during 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 period. Renaissance Technologies LLC raised its stake in Zedge by 2.9% in the second quarter. Renaissance Technologies LLC now owns 505,014 shares of the company’s stock valued at $1,540,000 after purchasing an additional 14,404 shares in the last quarter. Heron Bay Capital Management lifted its position in Zedge by 45.6% during the second quarter. Heron Bay Capital Management now owns 53,762 shares of the company’s stock worth $164,000 after purchasing an additional 16,838 shares during the period. FMR LLC lifted its position in Zedge by 30.2% during the third quarter. FMR LLC now owns 44,414 shares of the company’s stock worth $164,000 after purchasing an additional 10,293 shares during the period. Finally, Virtu Financial LLC bought a new position in Zedge in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds 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.