Zedge (NYSEAMERICAN:ZDGE) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Zedge, Inc. (NYSEAMERICAN:ZDGE) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.38 and traded as low as $3.06. Zedge shares last traded at $3.29, with a volume of 35,010 shares changing hands.

Wall Street Analyst Weigh In

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

Zedge Stock Performance

The business has a fifty day simple moving average of $3.38 and a 200-day simple moving average of $3.08. The firm has a market cap of $41.06 million, a price-to-earnings ratio of -36.56 and a beta of 1.41.

Zedge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Friday, January 30th were paid a dividend of $0.016 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $0.06 annualized dividend and a dividend yield of 1.9%. Zedge’s dividend payout ratio (DPR) is presently -8.96%.

Hedge Funds Weigh In On Zedge

Hedge funds have recently made changes to their positions in the stock. Heron Bay Capital Management lifted its position in shares of Zedge by 285.0% in the 2nd quarter. Heron Bay Capital Management now owns 87,976 shares of the company’s stock worth $353,000 after purchasing an additional 65,127 shares during the period. Marshall Wace LLP acquired a new stake in shares of Zedge during the 2nd quarter worth approximately $331,000. Bailard Inc. increased its stake in Zedge by 51.1% in the fourth quarter. Bailard Inc. now owns 60,100 shares of the company’s stock valued at $197,000 after purchasing an additional 20,337 shares in the last quarter. Citadel Advisors LLC increased its position in Zedge by 304.7% in the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock valued at $144,000 after buying an additional 37,285 shares in the last quarter. Finally, HRT Financial LP acquired a new position in shares of Zedge during the fourth quarter worth approximately $158,000. 29.37% of the stock is currently owned by institutional investors.

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.