Roadzen, Inc. (NASDAQ:RDZN) Short Interest Up 23.0% in March

Roadzen, Inc. (NASDAQ:RDZN - Get Free Report) was the recipient of a significant increase in short interest in the month of 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. Currently, 6.9% of the company's shares are sold short. Based on an average trading volume of 221,300 shares, the short-interest ratio is currently 7.0 days.

Roadzen Stock Performance

RDZN stock traded down $0.02 during mid-day trading on Friday, hitting $0.86. 237,592 shares of the company were exchanged, compared to its average volume of 732,571. Roadzen has a 1-year low of $0.71 and a 1-year high of $5.41. The firm's 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.29. The firm has a market cap of $64.11 million, a P/E ratio of -0.57 and a beta of 0.32.

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

Hedge Funds Weigh In On Roadzen

Hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD acquired a new position in Roadzen during the fourth quarter worth $32,000. JPMorgan Chase & Co. grew its holdings in shares of Roadzen by 124.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,108 shares of the company's stock valued at $33,000 after acquiring an additional 15,588 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Roadzen in the fourth quarter valued at about $34,000. Jane Street Group LLC bought a new stake in Roadzen during the fourth quarter worth about $39,000. Finally, Corebridge Financial Inc. boosted its position in Roadzen by 132.0% during the fourth quarter. Corebridge Financial Inc. now owns 18,769 shares of the company's stock valued at $41,000 after purchasing an additional 10,680 shares during the last quarter. 24.73% of the stock is 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.