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

Roadzen, Inc. (NASDAQ:RDZN - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 1,550,000 shares, an increase of 23.0% from the March 15th total of 1,260,000 shares. Approximately 6.9% of the company's stock are sold short. Based on an average daily trading volume, of 221,300 shares, the days-to-cover ratio is currently 7.0 days.

Institutional Trading of Roadzen

Several institutional investors and hedge funds have recently bought and sold shares of RDZN. Geode Capital Management LLC increased its stake in Roadzen by 120.3% in the fourth quarter. Geode Capital Management LLC now owns 487,401 shares of the company's stock valued at $1,063,000 after purchasing an additional 266,191 shares during the period. Sheets Smith Wealth Management purchased a new position in shares of Roadzen during the fourth quarter worth about $959,000. Northern Trust Corp increased its position in Roadzen by 132.2% in the 4th quarter. Northern Trust Corp now owns 221,184 shares of the company's stock valued at $482,000 after acquiring an additional 125,933 shares during the period. Cannell & Spears LLC purchased a new stake in Roadzen during the 4th quarter valued at approximately $327,000. Finally, JPMorgan Chase & Co. lifted its position in Roadzen by 392.2% during the 4th quarter. JPMorgan Chase & Co. now owns 138,352 shares of the company's stock worth $302,000 after acquiring an additional 110,244 shares during the period. Hedge funds and other institutional investors own 24.73% of the company's stock.

Roadzen Stock Up 2.3 %

RDZN stock traded up $0.02 during midday trading on Wednesday, hitting $0.87. The company's stock had a trading volume of 244,222 shares, compared to its average volume of 733,450. The firm has a 50-day simple moving average of $1.10 and a 200-day simple moving average of $1.29. The firm has a market capitalization of $64.59 million, a P/E ratio of -0.58 and a beta of 0.32. Roadzen has a 52-week low of $0.71 and a 52-week high of $5.41.

Roadzen (NASDAQ:RDZN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.04) earnings per share (EPS) for the quarter.

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.