Short Interest in Roadzen Inc. (NASDAQ:RDZN) Expands By 185.4%

Roadzen Inc. (NASDAQ:RDZN) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 398,646 shares, an increase of 185.4% from the April 15th total of 139,698 shares. Based on an average trading volume of 393,480 shares, the short-interest ratio is currently 1.0 days. Currently, 0.7% of the shares of the company are short sold.

Roadzen Stock Down 1.6%

Shares of NASDAQ:RDZN opened at $1.85 on Friday. The company’s 50 day moving average price is $1.32 and its two-hundred day moving average price is $1.56. Roadzen has a 12-month low of $0.81 and a 12-month high of $2.56. The firm has a market cap of $147.45 million, a PE ratio of -9.25 and a beta of 1.24.

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

Analysts Set New Price Targets

Several equities analysts recently commented on RDZN shares. Wall Street Zen downgraded shares of Roadzen from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roadzen in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Insiders Place Their Bets

In other news, insider Rohan Malhotra acquired 19,085 shares of the stock in a transaction on Monday, March 2nd. The shares were purchased at an average price of $1.37 per share, for a total transaction of $26,146.45. Following the transaction, the insider directly owned 849,642 shares of the company’s stock, valued at approximately $1,164,009.54. This represents a 2.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 29.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Roadzen by 51.7% in the first quarter. AQR Capital Management LLC now owns 40,559 shares of the company’s stock worth $42,000 after purchasing an additional 13,830 shares during the period. Bank of America Corp DE increased its position in shares of Roadzen by 263.3% in the fourth quarter. Bank of America Corp DE now owns 30,238 shares of the company’s stock worth $66,000 after purchasing an additional 21,915 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Roadzen in the second quarter worth $78,000. Jane Street Group LLC bought a new position in shares of Roadzen in the fourth quarter worth $102,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Roadzen in the fourth quarter worth $109,000. Institutional investors own 24.73% of the company’s stock.

Roadzen Company Profile

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.