ZDGE Stock Summary and Trading Ideas (Zedge Class B Common | AMEX:ZDGE)

Zedge Inc provides content distribution platforms. Its content platform enables consumers to personalize their mobile devices with free, high-quality ringtones, wallpapers, home screen app icons, widgets and notification sounds as well as paint, a generative AI wallpaper maker, GuruShots, a skill-based photo challenge game, and Emojipedia. The company also launched a Zedge app. It has two reportable segments, which are the Zedge Marketplace and GuruShots.

Zedge Class B Common trades on the AMEX stock market under the symbol ZDGE.

As of May 13, 2024, ZDGE stock price climbed to $2.96 with 22,210 million shares trading.

ZDGE has a beta of 2.22, meaning it tends to be more sensitive to market movements. ZDGE has a correlation of 0.12 to the broad based SPY ETF.

ZDGE has a market cap of $43.09 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, ZDGE stock traded as high as $19.90 and as low as $1.62.

The top ETF exchange traded funds that ZDGE belongs to (by Net Assets): VTI, VXF, FESM, DFAS, DFAT.

ZDGE has outperformed the market in the last year with a price return of +45.9% while the SPY ETF gained +28.2%. However, in the short term, ZDGE had mixed performance relative to the market. It has underperformed in the last 3 months, returning -22.3% vs +5.8% return in SPY. But in the last 2 weeks, ZDGE shares have fared better than the market returning +17.0% compared to SPY +2.1%.

ZDGE support price is $2.64 and resistance is $2.96 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ZDGE stock will trade within this expected range on the day.