Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Down 58.4% in March

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

Institutional Trading of Zedge

Several hedge funds and other institutional investors have recently modified their holdings of ZDGE. FMR LLC raised its position in shares of Zedge by 30.2% in the third 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. Virtu Financial LLC bought a new stake in shares of Zedge in the 3rd quarter valued at about $44,000. Welch Group LLC purchased a new stake in shares of Zedge during the first quarter valued at approximately $29,000. XTX Topco Ltd purchased a new stake in Zedge during the 4th quarter valued at $40,000. Finally, Jane Street Group LLC purchased a new stake in shares of Zedge during the fourth quarter worth about $53,000. Institutional investors own 29.37% of the company’s stock.

Zedge Price Performance

Shares of ZDGE traded down $0.01 during mid-day trading on Friday, hitting $2.10. The stock had a trading volume of 20,178 shares, compared to its average volume of 72,088. The firm has a market cap of $28.60 million, a PE ratio of -3.13 and a beta of 1.25. Zedge has a 52 week low of $1.73 and a 52 week high of $4.37.

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.