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

Roadzen, Inc. (NASDAQ:RDZN) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 396,200 shares, a decline of 13.1% from the August 31st total of 456,100 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 2,060,000 shares, the short-interest ratio is presently 0.2 days.

Roadzen Trading Down 2.3 %

Shares of Roadzen stock opened at $1.27 on Friday. The firm has a 50-day simple moving average of $1.59 and a two-hundred day simple moving average of $3.18. Roadzen has a fifty-two week low of $1.20 and a fifty-two week high of $7.17.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RDZN. Rhumbline Advisers purchased a new stake in Roadzen in the 2nd quarter worth $39,000. Bank of New York Mellon Corp acquired a new stake in shares of Roadzen in the second quarter valued at about $59,000. Finally, Murchinson Ltd. purchased a new stake in shares of Roadzen during the second quarter worth about $100,000. 24.73% of the stock is owned by institutional investors and hedge funds.

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.