Roadzen Inc. (NASDAQ:RDZN) Short Interest Update

Roadzen Inc. (NASDAQ:RDZN) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 2,302,959 shares, a growth of 257.5% from the June 15th total of 644,155 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average trading volume of 1,272,555 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Investors Weigh In On Roadzen

Institutional investors and hedge funds have recently modified their holdings of the company. Arete Wealth Advisors LLC bought a new position in shares of Roadzen in the first quarter valued at approximately $302,000. OMERS ADMINISTRATION Corp bought a new stake in Roadzen during the 4th quarter worth approximately $112,000. Hudson Bay Capital Management LP bought a new position in Roadzen in the 4th quarter valued at $109,000. Jane Street Group LLC purchased a new position in shares of Roadzen during the 4th quarter valued at $102,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Roadzen by 43.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 176,026 shares of the company’s stock valued at $424,000 after purchasing an additional 53,694 shares in the last quarter. 24.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RDZN shares. Wall Street Zen upgraded Roadzen from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roadzen in a research note on Tuesday, April 21st. Finally, Zacks Research raised shares of Roadzen to a “hold” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Roadzen has a consensus rating of “Reduce”.

Roadzen Stock Performance

Shares of NASDAQ RDZN opened at $1.18 on Monday. The stock has a market cap of $99.78 million, a PE ratio of -4.07 and a beta of 1.19. Roadzen has a fifty-two week low of $0.81 and a fifty-two week high of $2.56. The stock has a fifty day moving average of $1.67 and a 200-day moving average of $1.57.

Roadzen (NASDAQ:RDZN) last issued its quarterly earnings data on Monday, June 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $16.12 million during the quarter, compared to analyst estimates of $15.30 million. On average, sell-side analysts predict that Roadzen will post -0.14 EPS for the current year.

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.