Roadzen (NASDAQ:RDZN) Earns Sell (E+) Rating from Weiss Ratings

Roadzen (NASDAQ:RDZN)‘s stock had its “sell (e+)” rating restated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Roadzen Trading Up 11.7%

Shares of RDZN stock opened at $1.34 on Wednesday. The business’s fifty day simple moving average is $1.02 and its 200-day simple moving average is $1.03. The company has a market cap of $101.87 million, a PE ratio of -0.89 and a beta of 0.34. Roadzen has a 12-month low of $0.68 and a 12-month high of $2.99.

Roadzen (NASDAQ:RDZN) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $10.87 million during the quarter, compared to analyst estimates of $11.41 million.

Institutional Investors Weigh In On Roadzen

Large investors have recently made changes to their positions in the stock. Ground Swell Capital LLC purchased a new stake in shares of Roadzen during the second quarter valued at $26,000. AQR Capital Management LLC grew its holdings in shares of Roadzen by 51.7% during the first 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. Nuveen LLC purchased a new stake in shares of Roadzen during the first quarter valued at $51,000. Bank of New York Mellon Corp grew its holdings in shares of Roadzen by 57.2% during the first quarter. Bank of New York Mellon Corp now owns 57,456 shares of the company’s stock valued at $60,000 after buying an additional 20,902 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Roadzen by 263.3% during the fourth quarter. Bank of America Corp DE now owns 30,238 shares of the company’s stock valued at $66,000 after buying an additional 21,915 shares during the last quarter. 24.73% of the stock is owned by hedge funds and other 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.