Short Interest in Roadzen, Inc. (NASDAQ:RDZN) Drops By 37.2%

Roadzen, Inc. (NASDAQ:RDZN - Get Free Report) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 18,400 shares, a decrease of 37.2% from the May 31st total of 29,300 shares. Based on an average daily trading volume, of 125,800 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

Roadzen Trading Up 11.0 %

Shares of Roadzen stock traded up $0.22 during trading on Friday, hitting $2.22. 1,831,673 shares of the company were exchanged, compared to its average volume of 88,380. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. Roadzen has a fifty-two week low of $1.55 and a fifty-two week high of $17.00. The firm has a 50 day moving average price of $3.35 and a 200 day moving average price of $4.79.

Wall Street Analysts Forecast Growth

Separately, Maxim Group started coverage on shares of Roadzen in a research report on Thursday, May 23rd. They issued a "buy" rating and a $10.00 price objective for the company.

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.

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