Zedge Inc. [ZDGE] Stock trading around $2.54 per share: What’s Next?

Zedge Inc. [AMEX: ZDGE] stock went on an upward path that rose over 61.78% on Friday, amounting to a one-week price increase of more than 76.39%. The company report on October 23, 2020 that Zedge Announces 39.2% Increase in Revenue, EPS of $0.04, and a 277% Increase in Paid Subscribers for Fiscal Fourth Quarter 2020.

Company Delivers Record Cash Flow from Operations during Fiscal 2020; .

Zedge, Inc. (NYSE American:ZDGE), a worldwide mobile publishing and content platform provider, today announced results for the fiscal fourth quarter and full fiscal-year 2020 ended July 31, 2020.

Over the last 12 months, ZDGE stock rose by 42.70%. The one-year Zedge Inc. stock forecast points to a potential upside of 15.33. The average equity rating for ZDGE stock is currently 1.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $19.20 million, with 11.98 million shares outstanding and 9.29 million shares in the current float. Compared to the average trading volume of 38.98K shares, ZDGE stock reached a trading volume of 44712481 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Zedge Inc. [ZDGE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ZDGE shares is $3.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ZDGE stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

National Securities have made an estimate for Zedge Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 25, 2020.

The Average True Range (ATR) for Zedge Inc. is set at 0.21, with the Price to Sales ratio for ZDGE stock in the period of the last 12 months amounting to 2.21. The Price to Book ratio for the last quarter was 3.85, with the Price to Cash per share for the same quarter was set at 0.61. Price to Free Cash Flow for ZDGE in the course of the last twelve months was 48.01 with Quick ratio for the last quarter at 2.20.

ZDGE Stock Performance Analysis:

Zedge Inc. [ZDGE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 76.39. With this latest performance, ZDGE shares gained by 78.87% in over the last four-week period, additionally plugging by 117.89% over the last 6 months – not to mention a rise of 42.70% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ZDGE stock in for the last two-week period is set at 81.89, with the RSI for the last a single of trading hit 87.29, and the three-weeks RSI is set at 77.00 for Zedge Inc. [ZDGE]. The present Moving Average for the last 50 days of trading for this stock 1.49, while it was recorded at 1.71 for the last single week of trading, and 1.34 for the last 200 days.

Insight into Zedge Inc. Fundamentals:

Zedge Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.

Zedge Inc. [ZDGE] Insider Position Details

There are presently around $7 million, or 22.70% of ZDGE stock, in the hands of institutional investors. The top three institutional holders of ZDGE stocks are: OLD WEST INVESTMENT MANAGEMENT, LLC with ownership of 1,470,115, which is approximately -1.644% of the company’s market cap and around 2.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 263,573 shares of the stock with an approximate value of $0.67 million in ZDGE stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $0.57 million in ZDGE stock with ownership of nearly -7.215% of the company’s market capitalization.

3 institutional holders increased their position in Zedge Inc. [AMEX:ZDGE] by around 40,717 shares. Additionally, 10 investors decreased positions by around 91,752 shares, while 10 investors held positions by with 2,498,496 shares. The mentioned changes placed institutional holdings at 2,630,965 shares, according to the latest SEC report filing. ZDGE stock had 1 new institutional investments in for a total of 16,000 shares, while 2 institutional investors sold positions of 36,012 shares during the same period.

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