Short Interest in Zedge, Inc. (NYSEAMERICAN:ZDGE) Grows By 114.2%

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 25,700 shares, an increase of 114.2% from the February 28th total of 12,000 shares. Based on an average trading volume of 104,600 shares, the short-interest ratio is presently 0.2 days. Approximately 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Zedge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of Zedge during the 3rd quarter worth approximately $44,000. FMR LLC increased its position in Zedge by 30.2% during the third quarter. FMR LLC now owns 44,414 shares of the company’s stock worth $164,000 after buying an additional 10,293 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Zedge in the fourth quarter worth $71,000. Jane Street Group LLC acquired a new position in shares of Zedge in the fourth quarter worth $53,000. Finally, XTX Topco Ltd purchased a new stake in shares of Zedge in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 29.37% of the company’s stock.

Zedge Stock Down 1.7 %

Shares of ZDGE stock traded down $0.04 during mid-day trading on Friday, reaching $2.35. The stock had a trading volume of 62,650 shares, compared to its average volume of 72,686. The stock has a market cap of $32.01 million, a P/E ratio of -3.51 and a beta of 1.25. Zedge has a 12-month low of $1.93 and a 12-month high of $4.37.

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.