Roadzen Inc. (NASDAQ:RDZN) Short Interest Up 45.3% in March

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 shares are short sold. Based on an average daily trading volume, of 112,184 shares, the days-to-cover ratio is presently 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 stock was bought at an average cost of $1.37 per share, with a total value of $26,146.45. Following the purchase, the insider directly owned 849,642 shares in the company, valued at $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 is available at this link. 29.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roadzen

Several institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in Roadzen by 51.7% during the 1st quarter. AQR Capital Management LLC now owns 40,559 shares of the company’s stock worth $42,000 after acquiring an additional 13,830 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Roadzen by 263.3% in the fourth quarter. Bank of America Corp DE now owns 30,238 shares of the company’s stock valued at $66,000 after purchasing an additional 21,915 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Roadzen in the second quarter worth $78,000. Jane Street Group LLC acquired a new position in Roadzen during the fourth quarter worth $102,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Roadzen during the 4th quarter worth about $109,000. Institutional investors own 24.73% of the company’s stock.

Roadzen Price Performance

Shares of Roadzen stock traded down $0.00 on Monday, hitting $1.07. The company had a trading volume of 7,194 shares, compared to its average volume of 154,536. The stock has a 50-day moving average of $1.41 and a 200-day moving average of $1.49. Roadzen has a twelve month low of $0.68 and a twelve month high of $2.56. The firm has a market capitalization of $85.04 million, a P/E ratio of -5.34 and a beta of 0.46.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on RDZN shares. Wall Street Zen lowered shares of Roadzen from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roadzen in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock 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.