Roadzen (NASDAQ:RDZN) Earns Sell (E+) Rating from Weiss Ratings

Roadzen (NASDAQ:RDZN)‘s stock had its “sell (e+)” rating reissued by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Roadzen Stock Performance

NASDAQ:RDZN opened at $1.34 on Wednesday. Roadzen has a one year low of $0.68 and a one year high of $2.99. The firm has a market cap of $101.87 million, a price-to-earnings ratio of -0.89 and a beta of 0.34. The firm’s fifty day moving average is $1.02 and its two-hundred day moving average is $1.03.

Roadzen (NASDAQ:RDZN) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $10.87 million for the quarter, compared to the consensus estimate of $11.41 million.

Institutional Investors Weigh In On Roadzen

Hedge funds have recently added to or reduced their stakes in the business. Ground Swell Capital LLC purchased a new stake in Roadzen in the second quarter valued at $26,000. AQR Capital Management LLC raised its position in shares of Roadzen by 51.7% in the first quarter. AQR Capital Management LLC now owns 40,559 shares of the company’s stock worth $42,000 after acquiring an additional 13,830 shares during the period. Nuveen LLC acquired a new position in shares of Roadzen in the first quarter worth about $51,000. Bank of New York Mellon Corp raised its position in shares of Roadzen by 57.2% in the first quarter. Bank of New York Mellon Corp now owns 57,456 shares of the company’s stock worth $60,000 after acquiring an additional 20,902 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Roadzen by 263.3% in the fourth quarter. Bank of America Corp DE now owns 30,238 shares of the company’s stock worth $66,000 after acquiring an additional 21,915 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.