Roadzen, Inc. (NASDAQ:RDZN - Get Free Report) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,320,000 shares, a drop of 14.8% from the March 31st total of 1,550,000 shares. Based on an average daily trading volume, of 203,200 shares, the short-interest ratio is presently 6.5 days. Currently, 5.4% of the company's shares are sold short.
Roadzen Price Performance
RDZN opened at $0.88 on Friday. The company's 50 day moving average price is $1.06 and its two-hundred day moving average price is $1.29. The firm has a market capitalization of $65.35 million, a price-to-earnings ratio of -0.58 and a beta of 0.32. Roadzen has a fifty-two week low of $0.71 and a fifty-two week high of $4.50.
Roadzen (NASDAQ:RDZN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.04) earnings per share for the quarter.
Hedge Funds Weigh In On Roadzen
A number of hedge funds and other institutional investors have recently made changes to their positions in RDZN. Geode Capital Management LLC raised its holdings in Roadzen by 120.3% during the 4th 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 bought a new stake in Roadzen during the fourth quarter valued at $959,000. Cutter & CO Brokerage Inc. acquired a new stake in Roadzen during the 1st quarter worth about $287,000. Northern Trust Corp raised its position in shares of Roadzen by 132.2% in the 4th quarter. Northern Trust Corp now owns 221,184 shares of the company's stock worth $482,000 after acquiring an additional 125,933 shares in the last quarter. Finally, Cannell & Spears LLC acquired a new position in shares of Roadzen in the 4th quarter valued at about $327,000. 24.73% of the stock is owned by institutional investors and hedge funds.
About Roadzen
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Roadzen, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Roadzen wasn't on the list.
While Roadzen currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Like this article? Share it with a colleague.
Link copied to clipboard.
