Short Interest in Roadzen Inc. (NASDAQ:RDZN) Rises By 45.3%

Key Points

• Short interest rose 45.3% to 252,944 shares as of March 13, representing about 0.5% of the stock and a short-interest ratio of 2.3 days based on average daily volume.
• Insider buy: Rohan Malhotra purchased 19,085 shares at $1.37 on March 2, raising his stake to 849,642 shares; insiders collectively own 29.5% of the company.
• Stock weakness and outlook: Shares traded down 7.0% to $1.07 (market cap ~$85M), the company reported a ($0.12) EPS loss last quarter, and analysts' consensus rating is Sell.

Roadzen Inc. (NASDAQ:RDZN - Get Free Report) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 252,944 shares, a growth of 45.3% from the February 26th total of 174,132 shares. Approximately 0.5% of the company's stock are short sold. Based on an average daily volume of 112,184 shares, the short-interest ratio is currently 2.3 days.

Insider Activity

In related news, insider Rohan Malhotra purchased 19,085 shares of Roadzen stock in a transaction dated Monday, March 2nd. The stock was acquired at an average cost of $1.37 per share, with a total value of $26,146.45. Following the completion of the transaction, the insider directly owned 849,642 shares of the company's stock, valued at $1,164,009.54. This trade represents a 2.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Roadzen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDZN. Bank of America Corp DE raised its position in shares of Roadzen by 263.3% in the fourth quarter. Bank of America Corp DE now owns 30,238 shares of the company's stock valued at $66,000 after purchasing an additional 21,915 shares during the period. AQR Capital Management LLC grew its stake in Roadzen by 51.7% in the 1st quarter. AQR Capital Management LLC now owns 40,559 shares of the company's stock valued at $42,000 after buying an additional 13,830 shares during the last quarter. Jane Street Group LLC acquired a new position in Roadzen in the 4th quarter valued at $102,000. Hudson Bay Capital Management LP bought a new position in Roadzen in the 4th quarter worth $109,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Roadzen during the 4th quarter worth $112,000. Institutional investors and hedge funds own 24.73% of the company's stock.

Roadzen Stock Down 7.0%

Shares of NASDAQ:RDZN traded down $0.08 on Friday, reaching $1.07. The company had a trading volume of 59,701 shares, compared to its average volume of 96,375. Roadzen has a twelve month low of $0.68 and a twelve month high of $2.56. The stock has a 50-day moving average price of $1.41 and a 200 day moving average price of $1.48. The stock has a market capitalization of $85.28 million, a P/E ratio of -5.35 and a beta of 0.46.

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

Analyst Ratings Changes

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

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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