Zedge Inc (NYSEAMERICAN:ZDGE) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 19,000 shares, a growth of 90.0% from the June 30th total of 10,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 40,500 shares, the short-interest ratio is presently 0.5 days.
ZDGE stock opened at $1.39 on Friday. Zedge has a 52 week low of $0.66 and a 52 week high of $2.10.
Zedge (NYSEAMERICAN:ZDGE) last released its earnings results on Thursday, June 11th. The company reported ($0.03) EPS for the quarter. The company had revenue of $2.08 million for the quarter.
Separately, National Securities initiated coverage on shares of Zedge in a report on Thursday, June 25th. They issued a “buy” rating and a $3.00 price target on the stock.
In related news, Director Paul Packer purchased 21,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average price of $1.21 per share, with a total value of $25,410.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought a total of 53,237 shares of company stock worth $68,675 in the last three months.
A hedge fund recently raised its stake in Zedge stock. Bank of New York Mellon Corp lifted its holdings in shares of Zedge Inc (NYSEAMERICAN:ZDGE) by 190.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,803 shares of the company’s stock after purchasing an additional 19,545 shares during the period. Bank of New York Mellon Corp owned about 0.30% of Zedge worth $46,000 as of its most recent filing with the SEC.
Zedge, Inc provides content discovery and creation platform for smartphones worldwide. Its platform enables consumers to personalize their mobile devices with free ringtones, wallpapers, home screen app icons, widgets, and notification sounds. The company was incorporated in 2008 and is based in New York, New York.
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