Short Interest in Roadzen Inc. (NASDAQ:RDZN) Rises By 45.3%

Roadzen Inc. (NASDAQ:RDZN) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 252,944 shares, an increase of 45.3% from the February 26th total of 174,132 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 112,184 shares, the days-to-cover ratio is presently 2.3 days.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roadzen in a report on Thursday, January 22nd. Wall Street Zen lowered Roadzen from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Roadzen has a consensus rating of “Sell”.

Roadzen Stock Down 7.0%

NASDAQ RDZN traded down $0.08 during midday trading on Friday, hitting $1.07. The company had a trading volume of 59,701 shares, compared to its average volume of 96,375. The firm has a fifty day simple moving average of $1.41 and a two-hundred day simple moving average of $1.48. Roadzen has a fifty-two week low of $0.68 and a fifty-two week high of $2.56. The stock has a market cap of $85.28 million, a price-to-earnings ratio of -5.35 and a beta of 0.46.

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

Insider Activity at Roadzen

In other Roadzen news, insider Rohan Malhotra acquired 19,085 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were acquired at an average cost of $1.37 per share, for a total transaction of $26,146.45. Following the completion of the purchase, the insider owned 849,642 shares of the company’s stock, valued at approximately $1,164,009.54. This trade represents a 2.30% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 29.50% of the company’s stock.

Institutional Trading of Roadzen

A number of hedge funds have recently modified their holdings of RDZN. Goldman Sachs Group Inc. grew its holdings 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 worth $424,000 after purchasing an additional 53,694 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Roadzen in the second quarter valued at $144,000. Qube Research & Technologies Ltd acquired a new position in shares of Roadzen in the second quarter valued at $78,000. OMERS ADMINISTRATION Corp bought a new position in Roadzen in the fourth quarter worth $112,000. Finally, Hudson Bay Capital Management LP bought a new position in Roadzen in the fourth quarter worth $109,000. Institutional investors own 24.73% of the company’s stock.

About Roadzen

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.