Roadzen, Inc. (NASDAQ:RDZN - Get Free Report)'s stock price fell 11.4% during trading on Tuesday . The company traded as low as $1.97 and last traded at $2.02. 489,465 shares traded hands during trading, a decline of 41% from the average session volume of 828,661 shares. The stock had previously closed at $2.28.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Maxim Group dropped their target price on shares of Roadzen from $7.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, November 15th. ThinkEquity started coverage on Roadzen in a report on Monday, October 28th. They issued a "buy" rating and a $6.00 price objective for the company.
Check Out Our Latest Research Report on RDZN
Roadzen Price Performance
The firm has a market capitalization of $127.30 million, a P/E ratio of -0.97 and a beta of 0.28. The firm's 50 day moving average is $1.50 and its two-hundred day moving average is $1.55.
Institutional Investors Weigh In On Roadzen
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Roadzen by 24.3% during the 3rd quarter. Geode Capital Management LLC now owns 221,210 shares of the company's stock worth $263,000 after acquiring an additional 43,235 shares in the last quarter. Murchinson Ltd. bought a new position in shares of Roadzen in the 2nd quarter valued at $100,000. JPMorgan Chase & Co. raised its holdings in shares of Roadzen by 124.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,108 shares of the company's stock worth $33,000 after buying an additional 15,588 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Roadzen during the 2nd quarter worth $59,000. Finally, Rhumbline Advisers bought a new stake in shares of Roadzen during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 24.73% of the company's stock.
About Roadzen
(
Get Free Report)
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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