Zedge, Inc. (NYSEAMERICAN:ZDGE) Sees Significant Drop in Short Interest

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the recipient of a significant decrease in short interest in 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. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 59,038 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On Zedge

Institutional investors and hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. increased its stake in Zedge by 1,982.8% during the first quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock worth $148,000 after acquiring an additional 48,221 shares during the last quarter. NewEdge Advisors LLC increased 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 worth $173,000 after buying an additional 56,969 shares during the period. Finally, Kahn Brothers Group Inc. purchased a new stake in Zedge during the 2nd quarter worth about $242,000. 29.37% of the stock is currently owned by institutional investors and hedge funds.

Zedge Price Performance

NYSEAMERICAN ZDGE traded down $0.02 during trading hours on Thursday, reaching $2.72. The company’s stock had a trading volume of 22,233 shares, compared to its average volume of 94,309. The firm has a market capitalization of $34.11 million, a price-to-earnings ratio of -30.20 and a beta of 1.20. Zedge has a 1-year low of $2.21 and a 1-year high of $4.70. The company’s 50-day moving average is $2.97 and its two-hundred day moving average is $3.03.

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.