Roadzen (NASDAQ:RDZN) Stock Price Down 0.6% - Should You Sell?

Key Points

• Roadzen Inc. (NASDAQ:RDZN) saw its share price decrease by 0.6%, trading at around $0.98 after dropping from a previous close of $0.99.
• In its most recent earnings report, Roadzen missed the earnings per share consensus estimate, reporting ($0.05) compared to the expected ($0.04), and also fell short on revenue expectations with $10.87 million reported versus $11.41 million forecasted.
• Institutional investors have recently increased their stake in Roadzen, owning 24.73% of the company, indicating renewed interest in the stock.

Shares of Roadzen Inc. (NASDAQ:RDZN - Get Free Report) were down 0.6% during trading on Thursday . The stock traded as low as $0.97 and last traded at $0.98. Approximately 121,430 shares traded hands during trading, a decline of 61% from the average daily volume of 311,912 shares. The stock had previously closed at $0.99.

Roadzen Trading Down 0.5%

The firm's 50-day moving average price is $1.09 and its 200 day moving average price is $1.06.

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

Institutional Trading of Roadzen

Several large investors have recently modified their holdings of the stock. Cutter & CO Brokerage Inc. acquired a new stake in Roadzen in the 1st quarter valued at $287,000. Northern Trust Corp grew its position in Roadzen by 132.2% in the 4th quarter. Northern Trust Corp now owns 221,184 shares of the company's stock valued at $482,000 after purchasing an additional 125,933 shares during the period. Prospera Financial Services Inc acquired a new stake in Roadzen in the 2nd quarter valued at $171,000. Y Intercept Hong Kong Ltd acquired a new stake in Roadzen in the 2nd quarter valued at $159,000. Finally, Marshall Wace LLP acquired a new stake in Roadzen in the 2nd quarter valued at $144,000. 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.