Roadzen (NASDAQ:RDZN) Issues Quarterly Earnings Results

Roadzen (NASDAQ:RDZN) issued its quarterly earnings results on Tuesday. The company reported ($0.46) earnings per share (EPS) for the quarter, reports. The company had revenue of $8.93 million for the quarter.

Roadzen Price Performance

RDZN stock traded up $0.00 during trading on Thursday, hitting $1.40. 27,275 shares of the company’s stock were exchanged, compared to its average volume of 843,420. The business has a 50-day moving average price of $2.02 and a two-hundred day moving average price of $4.23. Roadzen has a 52-week low of $1.20 and a 52-week high of $17.00.

Analysts Set New Price Targets

Separately, Maxim Group started coverage on shares of Roadzen in a research note on Thursday, May 23rd. They set a “buy” rating and a $10.00 target price for the company.

Hedge Funds Weigh In On Roadzen

Several hedge funds have recently added to or reduced their stakes in RDZN. Rhumbline Advisers acquired a new position in shares of Roadzen in the 2nd quarter valued at $39,000. Bank of New York Mellon Corp purchased a new position in shares of Roadzen during the second quarter worth about $59,000. Finally, Murchinson Ltd. acquired a new stake in shares of Roadzen during the second quarter worth about $100,000. 24.73% of the stock is currently 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.