Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Up 188.4% in August

Zedge, Inc. (NYSEAMERICAN:ZDGE – Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 70,643 shares, a growth of 188.4% from the August 15th total of 24,494 shares. Based on an average trading volume of 125,497 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.7% of the shares of the stock are sold short.

Shares of ZDGE opened at $3.10 on Friday. Zedge has a fifty-two week low of $2.21 and a fifty-two week high of $4.70. The firm has a market cap of $38.87 million, a price-to-earnings ratio of -34.44 and a beta of 1.22. The firm has a 50 day moving average price of $2.99 and a 200-day moving average price of $3.04.

Zedge (NYSEAMERICAN:ZDGE – Get Free Report) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Zedge had a positive return on equity of 11.18% and a negative net margin of 3.62%.The firm had revenue of $7.99 million for the quarter, compared to analysts’ expectations of $7.00 million. As a group, equities research analysts predict that Zedge will post 0.31 earnings per share for the current year.

Separately, Zacks Research upgraded Zedge to a “hold” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.00.

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.
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