Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Up 54.9% in October

Zedge, Inc. (NYSEAMERICAN:ZDGE) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 15,800 shares, a growth of 54.9% from the October 15th total of 10,200 shares. Based on an average daily trading volume, of 59,800 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Zedge

Several hedge funds and other institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its stake in shares of Zedge by 20.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 50,166 shares of the company’s stock worth $139,000 after acquiring an additional 8,625 shares in the last quarter. Heron Bay Capital Management raised its holdings in Zedge by 45.6% in the 2nd quarter. Heron Bay Capital Management now owns 53,762 shares of the company’s stock worth $164,000 after purchasing an additional 16,838 shares during the period. Ritholtz Wealth Management purchased a new position in Zedge during the second quarter worth approximately $51,000. Dimensional Fund Advisors LP grew its holdings in Zedge by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 108,035 shares of the company’s stock valued at $330,000 after purchasing an additional 16,028 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Zedge by 2.9% in the second quarter. Renaissance Technologies LLC now owns 505,014 shares of the company’s stock valued at $1,540,000 after buying an additional 14,404 shares in the last quarter. Institutional investors and hedge funds own 29.37% of the company’s stock.

Zedge Stock Down 1.1 %

Shares of ZDGE traded down $0.03 during mid-day trading on Friday, hitting $2.75. 15,937 shares of the company traded hands, compared to its average volume of 64,641. The company has a market cap of $37.46 million, a P/E ratio of -4.23 and a beta of 1.28. Zedge has a 1-year low of $1.70 and a 1-year high of $5.18.

Zedge (NYSEAMERICAN:ZDGE) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter. Zedge had a negative net margin of 30.48% and a positive return on equity of 2.74%. The firm had revenue of $7.58 million for the quarter.

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.