Roadzen Inc (NASDAQ:RDZN) does about 144.06K shares in volume on a normal day but saw 3380264 shares change hands in the recent trading day. The company now has a market cap of 177.95M USD. Its current market price is $2.60, marking an increase of 57.58% compared to the previous close of $1.65. The 52 week high reached by this stock is $7.17 whilst the lowest price level in 52 weeks is $0.71.
Roadzen Inc (RDZN) has a 20-day trading average at $1.1300 and the current price is -63.74% off the 52-week high compared with 266.20% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.0100 and its 200-day simple moving average is $2.7900. If we look at the stock’s price movements over the week, volatility stands at 40.02%, which decreases to 21.36% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 92.35 to suggest the stock is overbought.
The consensus objective for the share price is $5.00, suggesting that the stock has a potential upside of 48.0% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on May 23, 2024 when Maxim Group initiated the stock to “Buy” and issued a price target of $10.
The current price level is 130.13%, 157.56%, and -6.65% away from its SMA20, SMA50, and SMA200 respectively, with the RDZN price moving below the 50-day SMA on current market day. Roadzen Inc (RDZN) stock is up 100.00% over the week and 186.44% over the past month. Its price is -48.92% year-to-date and -18.75% over the past year.
The company’s next earnings report forecasts estimating quarterly EPS at -0.09 and -1.21 for whole year. Expected sales for next quarter are $14.9M, which analysts say will come at $47.81M for the current fiscal year and next year at $91.12M. In addition, estimates put the company’s current quarterly revenue at an average of $12.11M.
To reach the target analysts have set, the stock logically needs to grow 48.0 percent from here.
Outstanding shares total 68.44M with insiders holding 53.68% of the shares and institutional holders owning 18.25% of the company’s common stock. The company has a return on equity of -172.58%. The beta has a value of 0.67. Price to sales ratio is 3.83.
