Roadzen, Inc. (NASDAQ:RDZN) Short Interest Down 14.8% in April

Roadzen, Inc. (NASDAQ:RDZN - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,320,000 shares, a decline of 14.8% from the March 31st total of 1,550,000 shares. Based on an average daily volume of 203,200 shares, the short-interest ratio is currently 6.5 days. Currently, 5.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RDZN. Rhumbline Advisers lifted its holdings in shares of Roadzen by 49.8% during the fourth quarter. Rhumbline Advisers now owns 23,740 shares of the company's stock worth $52,000 after purchasing an additional 7,892 shares during the period. Bank of New York Mellon Corp grew its position in shares of Roadzen by 39.2% during the 4th quarter. Bank of New York Mellon Corp now owns 36,554 shares of the company's stock valued at $80,000 after acquiring an additional 10,295 shares during the period. Corebridge Financial Inc. increased its position in shares of Roadzen by 132.0% in the fourth quarter. Corebridge Financial Inc. now owns 18,769 shares of the company's stock valued at $41,000 after buying an additional 10,680 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Roadzen by 150.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,848 shares of the company's stock worth $45,000 after purchasing an additional 12,530 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Roadzen during the fourth quarter worth $32,000. Institutional investors own 24.73% of the company's stock.

Roadzen Price Performance

Shares of NASDAQ:RDZN traded up $0.08 during midday trading on Thursday, hitting $0.77. The company had a trading volume of 123,410 shares, compared to its average volume of 740,537. Roadzen has a 12-month low of $0.68 and a 12-month high of $4.00. The company has a fifty day moving average of $1.04 and a two-hundred day moving average of $1.29. The company has a market cap of $57.28 million, a price-to-earnings ratio of -0.51 and a beta of 0.33.

Roadzen (NASDAQ:RDZN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.04) earnings per share (EPS) for the quarter.

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.