Short Interest in Roadzen Inc. (NASDAQ:RDZN) Declines By 37.6%

Key Points

• Short interest dropped 37.6% to 157,940 shares as of March 31, equal to about 0.3% of shares short and a short-interest ratio of 2.1 days.
• Analyst sentiment remains negative with an average "Sell" rating and recent downgrades from Wall Street Zen and Weiss Ratings.
• An insider, Rohan Malhotra, bought 19,085 shares at $1.37 (bringing his stake to 849,642 shares) while several institutions including AQR, Bank of America and Goldman increased positions; insiders and institutions own about 29.5% and 24.7% of the stock, respectively.

Roadzen Inc. (NASDAQ:RDZN - Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 157,940 shares, a drop of 37.6% from the March 15th total of 252,944 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 73,926 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Roadzen from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Weiss Ratings restated a "sell (e+)" rating on shares of Roadzen in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of "Sell".

Insider Activity

In related news, insider Rohan Malhotra acquired 19,085 shares of Roadzen stock in a transaction dated Monday, March 2nd. The shares were purchased at an average price of $1.37 per share, for a total transaction of $26,146.45. Following the completion of the transaction, the insider directly owned 849,642 shares in the company, valued at approximately $1,164,009.54. This represents a 2.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.50% of the stock is currently owned by insiders.

Institutional Trading of Roadzen

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its stake in Roadzen by 51.7% in the first quarter. AQR Capital Management LLC now owns 40,559 shares of the company's stock worth $42,000 after acquiring an additional 13,830 shares during the period. Bank of America Corp DE lifted its stake in Roadzen by 263.3% in the fourth quarter. Bank of America Corp DE now owns 30,238 shares of the company's stock worth $66,000 after acquiring an additional 21,915 shares during the period. Goldman Sachs Group Inc. lifted its stake in Roadzen by 26.6% in the first quarter. Goldman Sachs Group Inc. now owns 144,213 shares of the company's stock worth $150,000 after acquiring an additional 30,305 shares during the period. Jane Street Group LLC purchased a new stake in Roadzen in the fourth quarter worth about $102,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Roadzen in the fourth quarter worth about $109,000. 24.73% of the stock is owned by hedge funds and other institutional investors.

Roadzen Trading Up 6.2%

Shares of RDZN traded up $0.07 during trading hours on Tuesday, reaching $1.20. 213,661 shares of the company traded hands, compared to its average volume of 110,080. The firm has a market cap of $95.64 million, a price-to-earnings ratio of -6.00 and a beta of 0.51. Roadzen has a 12-month low of $0.68 and a 12-month high of $2.56. The stock's fifty day moving average price is $1.25 and its 200 day moving average price is $1.50.

Roadzen (NASDAQ:RDZN - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.12) earnings per share for the quarter. The company had revenue of $14.36 million for the quarter.

Roadzen Company Profile

Roadzen NASDAQ: RDZN is a global technology provider specializing in AI-driven telematics, data analytics and risk management solutions for the automotive and insurance industries. The company's core offerings include usage-based insurance (UBI) platforms, driver behavior analytics tools and predictive risk modeling services. By leveraging machine learning algorithms, telematics data and mobile connectivity, Roadzen enables insurers and fleet operators to optimize underwriting processes and enhance policyholder engagement through personalized pricing and proactive risk mitigation.

Founded in 2015 and headquartered in Singapore, Roadzen has established regional operations and development centers in India and other key markets across Asia-Pacific and Latin America.

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