Roadzen, Inc. (NASDAQ:RDZN) Short Interest Update

Roadzen, Inc. (NASDAQ:RDZN) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 1,550,000 shares, an increase of 23.0% from the March 15th total of 1,260,000 shares. Approximately 6.9% of the company’s stock are short sold. Based on an average daily volume of 221,300 shares, the short-interest ratio is currently 7.0 days.

Roadzen Trading Up 7.8 %

RDZN stock opened at $1.07 on Friday. The firm has a 50 day simple moving average of $1.13 and a 200-day simple moving average of $1.30. The company has a market capitalization of $79.49 million, a P/E ratio of -0.71 and a beta of 0.32. Roadzen has a twelve month low of $0.71 and a twelve month high of $5.49.

Roadzen (NASDAQ:RDZN) last released its earnings results on Wednesday, February 12th. The company reported ($0.04) earnings per share for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Roadzen by 120.3% during the fourth quarter. Geode Capital Management LLC now owns 487,401 shares of the company’s stock worth $1,063,000 after purchasing an additional 266,191 shares during the last quarter. Sheets Smith Wealth Management acquired a new position in shares of Roadzen in the 4th quarter valued at about $959,000. Northern Trust Corp grew its position in shares of Roadzen by 132.2% during the 4th quarter. Northern Trust Corp now owns 221,184 shares of the company’s stock valued at $482,000 after buying an additional 125,933 shares during the last quarter. Cannell & Spears LLC acquired a new stake in Roadzen during the fourth quarter worth about $327,000. Finally, JPMorgan Chase & Co. lifted its holdings in Roadzen by 392.2% in the fourth quarter. JPMorgan Chase & Co. now owns 138,352 shares of the company’s stock worth $302,000 after acquiring an additional 110,244 shares during the last quarter. Institutional investors and hedge funds own 24.73% of the company’s stock.

Roadzen Company Profile

Roadzen, Inc, an insurtech company, provides various insurance products in the United States and internationally. It offers insurance as a service platform, including Via, which enables fleets, carmakers, and insurers to inspect a vehicle using computer vision; Global Distribution Network that enables the configuration, customer quote, payment, and administration of any insurance policy with any insurance carrier as the underwriter; xClaim, which enables digital, touchless, and real-time resolution of claims; StrandD, a digital, real-time dispatch, and tracking for roadside assistance and first notice of loss during accident claims; Good Driving that enables insurers and fleets to recognize drivers, train drivers, and build usage based insurance programs; and Drivebuddy AI, which provides driver-assistance capabilities.