Zedge (NYSEAMERICAN:ZDGE) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Zedge, Inc. (NYSEAMERICAN:ZDGE) shares crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $2.81 and traded as high as $3.75. Zedge shares last traded at $2.88, with a volume of 5,794,287 shares traded.

Analyst Ratings Changes

Separately, Zacks Research lowered Zedge from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 28th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, Zedge presently has a consensus rating of “Sell” and an average price target of $6.00.

Zedge Price Performance

The company has a fifty day moving average of $2.81 and a two-hundred day moving average of $3.00. The stock has a market capitalization of $43.20 million, a P/E ratio of -143.93 and a beta of 1.32.

Zedge (NYSEAMERICAN:ZDGE) last issued its earnings results on Monday, October 26th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Zedge had a negative net margin of 0.41% and a positive return on equity of 13.19%. The company had revenue of $7.77 million for the quarter, compared to analysts’ expectations of $7.20 million. As a group, equities research analysts predict that Zedge, Inc. will post 0.12 EPS for the current fiscal year.

Zedge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be paid a $0.02 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.08 annualized dividend and a dividend yield of 2.8%. Zedge’s dividend payout ratio (DPR) is presently -11.94%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZDGE. Kahn Brothers Group Inc. bought a new position in shares of Zedge in the second quarter worth $242,000. NewEdge Advisors LLC increased its holdings in shares of Zedge by 2,923.0% during the first quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock valued at $173,000 after purchasing an additional 56,969 shares during the period. Finally, Hillsdale Investment Management Inc. raised its stake in shares of Zedge by 1,982.8% during the first 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. Institutional investors and hedge funds own 29.37% of the company’s stock.

Zedge Company Profile

Zedge, Inc. (NYSE American: ZDGE) operates a mobile-first digital content platform that enables users to discover, customize and share content for smartphones and other personal devices. Its principal consumer product is the Zedge app, which offers wallpapers, video wallpapers, ringtones, notification sounds, stickers and other personalization content. The company provides both free and premium content, with offerings from independent creators as well as technology-assisted and user-generated content.