Roadzen Inc. (NASDAQ:RDZN) Sees Large Growth in Short Interest

Roadzen Inc. (NASDAQ:RDZN) was the recipient of a large growth in short interest during 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. Based on an average daily volume of 1,272,555 shares, the short-interest ratio is currently 1.8 days. Currently, 3.9% of the shares of the stock are sold short.

Roadzen Stock Down 1.6%

NASDAQ RDZN traded down $0.02 during trading on Tuesday, reaching $1.17. 184,390 shares of the stock traded hands, compared to its average volume of 418,669. Roadzen has a fifty-two week low of $0.81 and a fifty-two week high of $2.56. The firm has a market cap of $99.02 million, a price-to-earnings ratio of -4.03 and a beta of 1.19. The stock’s 50-day moving average price is $1.65 and its 200 day moving average price is $1.56.

Roadzen (NASDAQ:RDZN) last issued its quarterly earnings data on Monday, June 29th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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. Analysts anticipate that Roadzen will post -0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on RDZN. Weiss Ratings restated a “sell (e+)” rating on shares of Roadzen in a report on Tuesday, April 21st. Wall Street Zen raised Roadzen from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Zacks Research upgraded shares of Roadzen to a “hold” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Roadzen has an average rating of “Reduce”.

Institutional Trading of Roadzen

A number of institutional investors have recently made changes to their positions in the business. Arete Wealth Advisors LLC acquired a new stake in shares of Roadzen in the first quarter valued at about $302,000. Marshall Wace LLP bought a new stake in shares of Roadzen during the 2nd quarter worth approximately $144,000. Qube Research & Technologies Ltd acquired a new stake in shares of Roadzen in the 2nd quarter valued at approximately $78,000. Goldman Sachs Group Inc. grew its stake in shares of Roadzen by 43.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 176,026 shares of the company’s stock valued at $424,000 after buying an additional 53,694 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in Roadzen during the fourth quarter worth $112,000. 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.