Roadzen Inc. (NASDAQ:RDZN) Short Interest Update

Key Points

• Roadzen Inc. (NASDAQ:RDZN) experienced a significant increase in short interest, growing by 129.6% to 528,800 shares as of July 31st, indicating heightened trading activity around the stock.
• Institutional investors currently hold 24.73% of Roadzen's stock, with several hedge funds making notable changes to their positions in the fourth quarter.
• In its latest earnings report, Roadzen missed analysts' estimates, recording a loss of ($0.05) per share and revenue of $10.87 million, below expectations of $11.41 million.

Roadzen Inc. (NASDAQ:RDZN - Get Free Report) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 528,800 shares, agrowthof129.6% from the July 15th total of 230,300 shares. Based on an average daily trading volume, of 479,600 shares, the days-to-cover ratio is presently 1.1 days. Currently,1.2% of the company's shares are short sold. Currently,1.2% of the company's shares are short sold. Based on an average daily trading volume, of 479,600 shares, the days-to-cover ratio is presently 1.1 days.

Roadzen Stock Up 1.5%

NASDAQ:RDZN traded up $0.0150 during trading hours on Friday, reaching $1.0350. 152,782 shares of the stock were exchanged, compared to its average volume of 349,661. The stock has a market capitalization of $76.89 million, a P/E ratio of -0.69 and a beta of 0.39. Roadzen has a 52 week low of $0.68 and a 52 week high of $2.99. The firm has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.07.

Roadzen (NASDAQ:RDZN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $10.87 million during the quarter, compared to the consensus estimate of $11.41 million.

Institutional Investors Weigh In On Roadzen

Several large investors have recently modified their holdings of RDZN. Ground Swell Capital LLC acquired a new position in Roadzen during the 2nd quarter worth $26,000. Price T Rowe Associates Inc. MD bought a new position in Roadzen in the fourth quarter valued at approximately $32,000. Jane Street Group LLC bought a new stake in shares of Roadzen during the fourth quarter worth $39,000. AQR Capital Management LLC grew its stake in shares of Roadzen by 51.7% during the first quarter. AQR Capital Management LLC now owns 40,559 shares of the company's stock worth $42,000 after buying an additional 13,830 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Roadzen by 150.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,848 shares of the company's stock worth $45,000 after acquiring an additional 12,530 shares in the last quarter. 24.73% of the stock is currently owned by institutional investors.

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.