Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Down 65.0% in December

Zedge, Inc. (NYSEAMERICAN:ZDGE) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 314,591 shares, a decrease of 65.0% from the December 15th total of 899,066 shares. Based on an average daily volume of 246,005 shares, the days-to-cover ratio is currently 1.3 days. Approximately 3.3% of the company’s stock are short sold. Approximately 3.3% of the company’s stock are short sold. Based on an average daily volume of 246,005 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Zedge

Institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new stake in shares of Zedge in the third quarter valued at about $37,000. Raymond James Financial Inc. bought a new stake in Zedge in the 2nd quarter worth about $40,000. Bailard Inc. purchased a new stake in Zedge in the 2nd quarter valued at about $47,000. Arrowstreet Capital Limited Partnership purchased a new stake in Zedge in the 3rd quarter valued at about $87,000. Finally, Corsair Capital Management L.P. bought a new position in shares of Zedge during the 2nd quarter worth approximately $128,000. Institutional investors own 29.37% of the company’s stock.

Zedge Stock Up 3.8%

ZDGE stock opened at $3.84 on Tuesday. The firm has a market capitalization of $47.92 million, a PE ratio of -42.67 and a beta of 1.37. Zedge has a twelve month low of $1.73 and a twelve month high of $4.89. The stock’s 50 day moving average is $2.91 and its 200-day moving average is $3.25.

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.