Roadzen (NASDAQ:RDZN) Stock Price Up 4.4%

Roadzen, Inc. (NASDAQ:RDZN)’s stock price traded up 4.4% during trading on Thursday . The company traded as high as $1.96 and last traded at $1.90. 51,712 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 794,003 shares. The stock had previously closed at $1.82.

Wall Street Analysts Forecast Growth

Separately, Maxim Group began coverage on shares of Roadzen in a research report on Thursday, May 23rd. They set a “buy” rating and a $10.00 price objective on the stock.

Roadzen Stock Down 6.8 %

The firm’s 50 day moving average is $1.87 and its 200-day moving average is $3.71.

Roadzen (NASDAQ:RDZN) last announced its quarterly earnings results on Monday, July 1st. The company reported ($0.39) earnings per share for the quarter. The company had revenue of $10.00 million during the quarter. Roadzen had a negative return on equity of 31,166.20% and a negative net margin of 287.82%.

Institutional Investors Weigh In On Roadzen

A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers bought a new position in shares of Roadzen in the second quarter valued at approximately $39,000. Bank of New York Mellon Corp bought a new position in shares of Roadzen in the second quarter valued at approximately $59,000. Finally, Murchinson Ltd. bought a new position in shares of Roadzen in the second quarter valued at approximately $100,000. Institutional investors own 24.73% of the company’s stock.

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.