Roadzen Inc. (NASDAQ:RDZN) Short Interest Update

Roadzen Inc. (NASDAQ:RDZN) was the recipient of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 398,646 shares, a growth of 185.4% from the April 15th total of 139,698 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 393,480 shares, the days-to-cover ratio is presently 1.0 days.

Insider Activity at Roadzen

In related news, insider Rohan Malhotra purchased 19,085 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average cost 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 $1,164,009.54. This represents a 2.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 29.50% of the company’s stock.

Hedge Funds Weigh In On Roadzen

Institutional investors have recently made changes to their positions in the company. Hudson Bay Capital Management LP purchased a new position in shares of Roadzen during the fourth quarter valued at $109,000. Marshall Wace LLP purchased a new position in shares of Roadzen during the second quarter valued at $144,000. Goldman Sachs Group Inc. increased its stake in shares of Roadzen by 26.6% during the first quarter. Goldman Sachs Group Inc. now owns 144,213 shares of the company’s stock valued at $150,000 after buying an additional 30,305 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Roadzen during the fourth quarter valued at $112,000. Finally, Jane Street Group LLC purchased a new position in shares of Roadzen during the fourth quarter valued at $102,000. Hedge funds and other institutional investors own 24.73% of the company’s stock.

Roadzen Stock Performance

RDZN stock traded down $0.08 during midday trading on Friday, reaching $1.77. The company’s stock had a trading volume of 427,210 shares, compared to its average volume of 888,778. The stock has a fifty day simple moving average of $1.33 and a two-hundred day simple moving average of $1.56. Roadzen has a 1 year low of $0.81 and a 1 year high of $2.56. The firm has a market capitalization of $141.07 million, a price-to-earnings ratio of -8.85 and a beta of 1.24.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen downgraded 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 Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, 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.