Short Interest in Roadzen, Inc. (NASDAQ:RDZN) Expands By 369.2%

Roadzen, Inc. (NASDAQ:RDZN) saw a significant growth in short interest in July. As of July 15th, there was short interest totalling 467,800 shares, a growth of 369.2% from the June 30th total of 99,700 shares. Based on an average daily volume of 1,990,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.6% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Roadzen Trading Up 1.2 %

Shares of NASDAQ RDZN traded up $0.02 during mid-day trading on Thursday, hitting $1.66. 113,146 shares of the stock traded hands, compared to its average volume of 923,274. Roadzen has a 52 week low of $1.55 and a 52 week high of $17.00. The stock has a fifty day moving average price of $2.54 and a 200-day moving average price of $4.54.

Roadzen (NASDAQ:RDZN) last released its quarterly earnings results on Monday, July 1st. The company reported ($0.39) earnings per share for the quarter. The company had revenue of $10.00 million during the quarter.

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.