Zedge, Inc. (NYSEAMERICAN:ZDGE) Stock Short Interest Drops 43.3%

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 37,971 shares, a decrease of 43.3% from the September 15th total of 66,926 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 59,038 shares, the days-to-cover ratio is currently 0.6 days.

Zedge Stock Up 1.5%

NYSEAMERICAN ZDGE traded up $0.04 during trading hours on Friday, hitting $2.78. The company had a trading volume of 42,220 shares, compared to its average volume of 55,062. The firm has a market cap of $34.86 million, a P/E ratio of -30.89 and a beta of 1.20. Zedge has a fifty-two week low of $2.21 and a fifty-two week high of $4.70. The business has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $3.03.

Institutional Trading of Zedge

A number of large investors have recently modified their holdings of the company. Kahn Brothers Group Inc. bought a new stake in Zedge in the 2nd quarter valued at about $242,000. NewEdge Advisors LLC boosted its stake in Zedge by 2,923.0% during the 1st quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock valued at $173,000 after purchasing an additional 56,969 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its stake in Zedge by 1,982.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock valued at $148,000 after purchasing an additional 48,221 shares during the period. Institutional investors and hedge funds own 29.37% of the company’s stock.

Zedge Company Profile

Zedge, Inc operates a digital content marketplace that enables users to discover, personalize and share content for mobile devices. Its flagship Zedge platform offers wallpapers, ringtones, notification sounds, app icons, fonts and other personalization products, including content created by independent artists and other members of its community.

The company provides its services through mobile applications and online platforms, with products available to users internationally. Zedge also offers premium digital content and tools designed to help creators distribute and monetize their work.

Founded in 2003, Zedge has expanded beyond mobile personalization through digital entertainment and creator-focused offerings.