Zedge, Inc. (NYSEAMERICAN:ZDGE) Sees Significant Decrease in Short Interest

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 23,600 shares, a drop of 15.1% from the January 31st total of 27,800 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 113,100 shares, the days-to-cover ratio is presently 0.2 days.

Zedge Stock Performance

Shares of NYSEAMERICAN:ZDGE traded down $0.02 during midday trading on Friday, hitting $2.26. The company’s stock had a trading volume of 14,155 shares, compared to its average volume of 64,604. The company has a market cap of $30.78 million, a P/E ratio of -3.37 and a beta of 1.25. Zedge has a fifty-two week low of $1.93 and a fifty-two week high of $4.37.

Institutional Trading of Zedge

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Zedge in the 3rd quarter worth $44,000. FMR LLC raised its position in shares of Zedge by 30.2% during the third quarter. FMR LLC now owns 44,414 shares of the company’s stock valued at $164,000 after buying an additional 10,293 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Zedge in the fourth quarter valued at about $71,000. Jane Street Group LLC bought a new position in Zedge during the fourth quarter valued at about $53,000. Finally, XTX Topco Ltd acquired a new position in Zedge in the 4th quarter valued at approximately $40,000. Institutional investors own 29.37% of the company’s stock.

Zedge Company Profile

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.