Roadzen, Inc. (NASDAQ:RDZN) Short Interest Update

Roadzen, Inc. (NASDAQ:RDZN) saw a significant 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. Currently, 6.9% of the shares of the company are sold short. Based on an average daily volume of 221,300 shares, the days-to-cover ratio is presently 7.0 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sheets Smith Wealth Management acquired a new stake in Roadzen in the 4th quarter valued at about $959,000. Geode Capital Management LLC lifted its stake in Roadzen by 24.3% during the third quarter. Geode Capital Management LLC now owns 221,210 shares of the company’s stock valued at $263,000 after purchasing an additional 43,235 shares during the last quarter. JPMorgan Chase & Co. grew its position in Roadzen by 124.5% in the third quarter. JPMorgan Chase & Co. now owns 28,108 shares of the company’s stock worth $33,000 after buying an additional 15,588 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Roadzen by 159.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 90,672 shares of the company’s stock valued at $198,000 after buying an additional 55,759 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Roadzen during the 4th quarter valued at $34,000. Institutional investors own 24.73% of the company’s stock.

Roadzen Stock Performance

Shares of RDZN opened at $1.07 on Friday. Roadzen has a one year low of $0.71 and a one year high of $5.49. The stock’s fifty day moving average is $1.13 and its 200-day moving average is $1.30. The firm has a market capitalization of $79.49 million, a price-to-earnings ratio of -0.71 and a beta of 0.32.

Roadzen (NASDAQ:RDZN) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.04) EPS for the quarter.

About Roadzen

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.