Roadzen Inc. (NASDAQ:RDZN) Short Interest Down 37.6% in March

Roadzen Inc. (NASDAQ:RDZN) was the recipient of a large 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. Based on an average daily trading volume, of 73,926 shares, the short-interest ratio is currently 2.1 days. Approximately 0.3% of the company’s shares are short sold.

Roadzen Stock Performance

RDZN remained flat at $1.20 during trading on Thursday. 3,041 shares of the company’s stock traded hands, compared to its average volume of 153,571. Roadzen has a 12 month low of $0.68 and a 12 month high of $2.56. The stock’s 50-day moving average is $1.24 and its 200 day moving average is $1.50. The stock has a market capitalization of $95.64 million, a price-to-earnings ratio of -6.00 and a beta of 0.51.

Roadzen (NASDAQ:RDZN) last posted its earnings results 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.

Insider Transactions at Roadzen

In other Roadzen news, insider Rohan Malhotra purchased 19,085 shares of the stock in a transaction on Monday, March 2nd. The stock was bought at an average price of $1.37 per share, for a total transaction of $26,146.45. Following the acquisition, the insider directly owned 849,642 shares of the company’s stock, valued at $1,164,009.54. This represents a 2.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 29.50% of the company’s stock.

Institutional Investors Weigh In On Roadzen

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Roadzen by 263.3% in the 4th 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. AQR Capital Management LLC grew its holdings in Roadzen by 51.7% during the 1st quarter. AQR Capital Management LLC now owns 40,559 shares of the company’s stock valued at $42,000 after purchasing an additional 13,830 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Roadzen by 26.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 144,213 shares of the company’s stock worth $150,000 after buying an additional 30,305 shares during the period. Marshall Wace LLP acquired a new position in Roadzen in the 2nd quarter worth $144,000. Finally, Qube Research & Technologies Ltd purchased a new position in Roadzen in the 2nd quarter valued at about $78,000. 24.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RDZN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roadzen in a research report on Thursday, January 22nd. Wall Street Zen downgraded Roadzen from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Roadzen 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.