Zedge (NYSEAMERICAN:ZDGE) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Zedge, Inc. (NYSEAMERICAN:ZDGE) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $0.00 and traded as high as $2.83. Zedge shares last traded at $2.78, with a volume of 21,006 shares.

Zedge Stock Down 3.2 %

The stock has a market capitalization of $36.64 million, a price-to-earnings ratio of -4.01 and a beta of 1.24.

Zedge (NYSEAMERICAN:ZDGE) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.01) EPS for the quarter. Zedge had a positive return on equity of 1.55% and a negative net margin of 31.44%. The firm had revenue of $7.58 million during the quarter.

Hedge Funds Weigh In On Zedge

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in Zedge during the 3rd quarter worth approximately $44,000. FMR LLC grew its position in Zedge by 30.2% in the third quarter. FMR LLC now owns 44,414 shares of the company’s stock valued at $164,000 after acquiring an additional 10,293 shares in the last quarter. Heron Bay Capital Management raised its stake in shares of Zedge by 45.6% during the second quarter. Heron Bay Capital Management now owns 53,762 shares of the company’s stock valued at $164,000 after purchasing an additional 16,838 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Zedge by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 108,035 shares of the company’s stock worth $330,000 after purchasing an additional 16,028 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Zedge by 2.9% in the second quarter. Renaissance Technologies LLC now owns 505,014 shares of the company’s stock valued at $1,540,000 after purchasing an additional 14,404 shares during the period. Institutional investors and hedge funds own 29.37% of the company’s stock.

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.