Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Update

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 195,447 shares, a drop of 37.9% from the December 31st total of 314,591 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 96,900 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 96,900 shares, the short-interest ratio is presently 2.0 days. Currently, 2.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Zedge

A number of institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC lifted its position in shares of Zedge by 304.7% in the third 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 during the last quarter. Squarepoint Ops LLC bought a new stake in Zedge in the 3rd quarter valued at $37,000. Arrowstreet Capital Limited Partnership acquired a new stake in Zedge during the 3rd quarter valued at $87,000. Bailard Inc. boosted its position in Zedge by 238.5% during the third quarter. Bailard Inc. now owns 39,763 shares of the company’s stock worth $116,000 after purchasing an additional 28,016 shares during the period. Finally, Welch Group LLC boosted its position in Zedge by 274.9% during the third quarter. Welch Group LLC now owns 45,671 shares of the company’s stock worth $133,000 after purchasing an additional 33,488 shares during the period. Institutional investors and hedge funds own 29.37% of the company’s stock.

Zedge Trading Up 0.6%

Shares of ZDGE opened at $3.19 on Friday. The company has a market cap of $39.81 million, a price-to-earnings ratio of -35.44 and a beta of 1.37. The company’s fifty day simple moving average is $3.12 and its 200 day simple moving average is $3.22. Zedge has a 1-year low of $1.73 and a 1-year high of $4.89.

Zedge Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 30th will be paid a $0.016 dividend. This represents a $0.06 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, January 30th. Zedge’s dividend payout ratio (DPR) is -8.96%.

About Zedge

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.