Roadzen Inc. (NASDAQ:RDZN) Sees Significant Growth in Short Interest

Roadzen Inc. (NASDAQ:RDZN) saw a large growth in short interest in the month of 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 trading volume, of 112,184 shares, the short-interest ratio is currently 2.3 days.

Insider Activity at Roadzen

In related news, insider Rohan Malhotra purchased 19,085 shares of the stock in a transaction dated Monday, March 2nd. The shares were acquired at an average cost of $1.37 per share, for a total transaction of $26,146.45. Following the acquisition, the insider directly owned 849,642 shares in the company, valued at approximately $1,164,009.54. The trade was a 2.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roadzen

Institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its position in shares of 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 buying an additional 13,830 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Roadzen by 263.3% during the 4th quarter. Bank of America Corp DE now owns 30,238 shares of the company’s stock valued at $66,000 after acquiring an additional 21,915 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Roadzen in the 2nd quarter valued at approximately $78,000. Jane Street Group LLC bought a new position in shares of Roadzen in the 4th quarter valued at approximately $102,000. Finally, Hudson Bay Capital Management LP acquired a new stake in Roadzen in the 4th quarter worth approximately $109,000. 24.73% of the stock is currently owned by institutional investors.

Roadzen Stock Down 7.0%

RDZN stock traded down $0.08 during trading hours on Friday, hitting $1.07. The company’s stock had a trading volume of 59,701 shares, compared to its average volume of 96,375. The company has a market capitalization of $85.28 million, a PE ratio of -5.35 and a beta of 0.46. Roadzen has a 12 month low of $0.68 and a 12 month high of $2.56. The stock has a 50 day moving average price of $1.41 and a two-hundred day moving average price of $1.48.

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

Wall Street Analysts Forecast Growth

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

About Roadzen

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.