Roadzen, Inc. (NASDAQ:RDZN) Short Interest Down 13.1% in September

by · The Markets Daily

Roadzen, Inc. (NASDAQ:RDZN – Get Free Report) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 396,200 shares, a decrease of 13.1% from the August 31st total of 456,100 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,060,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in shares of Roadzen in the second quarter worth $59,000. Rhumbline Advisers bought a new stake in Roadzen in the 2nd quarter worth $39,000. Finally, Murchinson Ltd. purchased a new position in shares of Roadzen in the second quarter valued at about $100,000. Hedge funds and other institutional investors own 24.73% of the company’s stock.

Roadzen Price Performance

RDZN stock opened at $1.27 on Monday. Roadzen has a one year low of $1.20 and a one year high of $7.17. The company’s 50 day moving average price is $1.59 and its two-hundred day moving average price is $3.13.

Roadzen (NASDAQ:RDZN – Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.46) EPS for the quarter. The business had revenue of $8.93 million during the quarter. Roadzen had a negative return on equity of 31,166.20% and a negative net margin of 287.82%.

Roadzen Company Profile

(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.

See Also