Roadzen (NASDAQ:RDZN) Trading Up 4.4%

Roadzen, Inc. (NASDAQ:RDZN)’s stock price shot up 4.4% during trading on Thursday . The company traded as high as $1.96 and last traded at $1.90. 51,712 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 794,003 shares. The stock had previously closed at $1.82.

Analyst Upgrades and Downgrades

Separately, Maxim Group began coverage on shares of Roadzen in a research report on Thursday, May 23rd. They issued a “buy” rating and a $10.00 price target on the stock.

Roadzen Stock Performance

The stock’s 50-day moving average is $1.87 and its 200-day moving average is $3.71.

Roadzen (NASDAQ:RDZN) last announced its earnings results on Monday, July 1st. The company reported ($0.39) earnings per share (EPS) for the quarter. Roadzen had a negative return on equity of 31,166.20% and a negative net margin of 287.82%. The company had revenue of $10.00 million for the quarter.

Institutional Investors Weigh In On Roadzen

A number of institutional investors have recently bought and sold shares of RDZN. Murchinson Ltd. acquired a new stake in Roadzen during the second quarter valued at approximately $100,000. Bank of New York Mellon Corp bought a new position in shares of Roadzen in the second quarter valued at approximately $59,000. Finally, Rhumbline Advisers bought a new position in shares of Roadzen in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 24.73% of the company’s stock.

Roadzen Company Profile

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.