Zedge Inc (NYSEAMERICAN:ZDGE) Short Interest Up 6.0% in June

Zedge Inc (NYSEAMERICAN:ZDGE) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 42,600 shares, a growth of 6.0% from the May 15th total of 40,200 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 10,200 shares, the days-to-cover ratio is currently 4.2 days.

NYSEAMERICAN ZDGE remained flat at $$1.60 during trading hours on Friday. 15,106 shares of the company traded hands, compared to its average volume of 7,628. Zedge has a one year low of $1.33 and a one year high of $3.65.

Zedge (NYSEAMERICAN:ZDGE) last issued its quarterly earnings data on Wednesday, June 12th. The company reported ($0.12) EPS for the quarter. The firm had revenue of $1.91 million for the quarter.

In related news, Director Howard S. Jonas acquired 47,394 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $2.11 per share, with a total value of $100,001.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

A hedge fund recently raised its stake in Zedge stock. Old West Investment Management LLC lifted its stake in Zedge Inc (NYSEAMERICAN:ZDGE) by 29.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,409,063 shares of the company’s stock after buying an additional 317,690 shares during the period. Zedge makes up 0.9% of Old West Investment Management LLC’s investment portfolio, making the stock its 14th largest holding. Old West Investment Management LLC owned about 14.40% of Zedge worth $3,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Zedge

Zedge, Inc provides content discovery and creation platform for smartphones worldwide. Its platform enables consumers to personalize their mobile devices with free ringtones, wallpapers, home screen app icons, widgets, and notification sounds. The company was incorporated in 2008 and is based in New York, New York.

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