Roadzen (NASDAQ:RDZN) Trading Down 5.3% – Should You Sell?

Roadzen, Inc. (NASDAQ:RDZN) shares traded down 5.3% during mid-day trading on Tuesday . The stock traded as low as $1.03 and last traded at $1.07. 91,244 shares were traded during trading, a decline of 87% from the average session volume of 714,313 shares. The stock had previously closed at $1.13.

Roadzen Stock Performance

The business’s fifty day moving average price is $1.26 and its 200-day moving average price is $1.32. The stock has a market cap of $77.90 million, a PE ratio of -0.70 and a beta of 0.24.

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

Hedge Funds Weigh In On Roadzen

Several institutional investors have recently bought and sold shares of RDZN. Price T Rowe Associates Inc. MD purchased a new stake in shares of Roadzen during the 4th quarter worth approximately $32,000. JPMorgan Chase & Co. lifted its position in Roadzen by 124.5% during the third quarter. JPMorgan Chase & Co. now owns 28,108 shares of the company’s stock valued at $33,000 after purchasing an additional 15,588 shares during the last quarter. SG Americas Securities LLC purchased a new position in Roadzen in the fourth quarter worth about $34,000. Jane Street Group LLC bought a new position in shares of Roadzen during the 4th quarter valued at approximately $39,000. Finally, Corebridge Financial Inc. raised its stake in shares of Roadzen by 132.0% in the fourth quarter. Corebridge Financial Inc. now owns 18,769 shares of the company’s stock valued at $41,000 after acquiring an additional 10,680 shares during the period. 24.73% of the stock is owned by hedge funds and other institutional investors.

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.