Roadzen (NASDAQ:RDZN) Trading Down 5.3% – What’s Next?

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

Roadzen Trading Up 5.0 %

The firm’s 50-day moving average price is $1.26 and its two-hundred 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.

Institutional Investors Weigh In On Roadzen

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Roadzen by 49.8% during the fourth quarter. Rhumbline Advisers now owns 23,740 shares of the company’s stock valued at $52,000 after buying an additional 7,892 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Roadzen by 39.2% during the 4th quarter. Bank of New York Mellon Corp now owns 36,554 shares of the company’s stock worth $80,000 after acquiring an additional 10,295 shares in the last quarter. Corebridge Financial Inc. lifted its position in Roadzen by 132.0% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Roadzen by 150.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,848 shares of the company’s stock valued at $45,000 after acquiring an additional 12,530 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new position in Roadzen in the fourth quarter worth $32,000. Institutional investors own 24.73% of the company’s stock.

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.