Roadzen (NASDAQ:RDZN) Posts Earnings Results

Roadzen (NASDAQ:RDZN) posted its quarterly earnings data on Friday. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01, Zacks reports. The company had revenue of $13.68 million for the quarter, compared to analyst estimates of $12.00 million.

Roadzen Stock Performance

NASDAQ RDZN traded up $0.03 on Friday, reaching $1.38. 257,726 shares of the company’s stock traded hands, compared to its average volume of 582,451. Roadzen has a fifty-two week low of $0.68 and a fifty-two week high of $2.99. The firm has a market cap of $104.91 million, a price-to-earnings ratio of -3.37 and a beta of 0.46. The stock has a 50 day moving average price of $1.21 and a 200-day moving average price of $1.09.

Hedge Funds Weigh In On Roadzen

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in Roadzen by 51.7% during the first quarter. AQR Capital Management LLC now owns 40,559 shares of the company’s stock worth $42,000 after purchasing an additional 13,830 shares in the last quarter. Bank of America Corp DE raised its stake 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 worth $66,000 after buying an additional 21,915 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Roadzen during the 2nd quarter valued at approximately $78,000. Marshall Wace LLP acquired a new stake in Roadzen in the 2nd quarter valued at $144,000. Finally, Goldman Sachs Group Inc. increased its holdings in Roadzen by 26.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 144,213 shares of the company’s stock worth $150,000 after acquiring an additional 30,305 shares in the last quarter. Institutional investors and hedge funds own 24.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Roadzen in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

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.