Zedge (NYSEAMERICAN:ZDGE) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

Zedge, Inc. (NYSEAMERICAN:ZDGE) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.08 and traded as low as $2.94. Zedge shares last traded at $2.97, with a volume of 24,951 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Zedge to a “hold” rating in a report on Monday, June 15th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Zedge currently has an average rating of “Hold” and a consensus price target of $6.00.

Zedge Stock Up 1.0%

The firm has a market capitalization of $37.37 million, a price-to-earnings ratio of -33.11 and a beta of 1.22. The stock’s 50 day moving average price is $3.07 and its two-hundred day moving average price is $3.07.

Zedge (NYSEAMERICAN:ZDGE) last released its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Zedge had a positive return on equity of 11.18% and a negative net margin of 3.62%.The firm had revenue of $7.99 million during the quarter, compared to analysts’ expectations of $7.00 million. On average, equities analysts expect that Zedge, Inc. will post 0.31 EPS for the current fiscal year.

Zedge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, June 22nd. Zedge’s payout ratio is currently -11.94%.

Institutional Investors Weigh In On Zedge

Large investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new position in Zedge during the second quarter valued at approximately $331,000. Bailard Inc. grew its position in Zedge by 51.1% in the fourth quarter. Bailard Inc. now owns 60,100 shares of the company’s stock worth $197,000 after acquiring an additional 20,337 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Zedge by 2,923.0% during the 1st quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock worth $173,000 after purchasing an additional 56,969 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of 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 in the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of 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 purchasing an additional 37,285 shares during the last quarter. Institutional investors own 29.37% of the company’s stock.

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.