Key Points
- Insider buy: Roadzen insider Rohan Malhotra purchased 12,000 shares at an average price of $1.43 on Nov 21 for a total of $17,160, increasing his stake to 819,837 shares (a 1.49% rise in his position).
- Stock snapshot: RDZN traded at $1.56 (latest), with a 52-week range of $0.68–$2.99, a market cap of $123.14 million, and 50/200-day moving averages of $1.26/$1.12.
- Financials & sentiment: The company beat estimates with EPS of ($0.03) and revenue of $13.68M for the quarter, but the consensus analyst rating is a "Sell" (Weiss Ratings reiterated a "sell (e+)"), and institutional investors own about 24.73% of the stock.
Roadzen Inc. (NASDAQ:RDZN - Get Free Report) insider Rohan Malhotra bought 12,000 shares of the firm's stock in a transaction on Friday, November 21st. The shares were purchased at an average cost of $1.43 per share, with a total value of $17,160.00. Following the transaction, the insider directly owned 819,837 shares in the company, valued at approximately $1,172,366.91. This trade represents a 1.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Roadzen Stock Performance
Shares of NASDAQ:RDZN traded up $0.03 during trading on Tuesday, reaching $1.56. The stock had a trading volume of 23,292 shares, compared to its average volume of 372,561. Roadzen Inc. has a 52 week low of $0.68 and a 52 week high of $2.99. The firm's fifty day moving average is $1.26 and its 200 day moving average is $1.12. The stock has a market cap of $123.14 million, a price-to-earnings ratio of -12.96 and a beta of 0.45.
Roadzen (NASDAQ:RDZN - Get Free Report) last released its earnings results on Friday, November 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $13.68 million during the quarter, compared to analyst estimates of $12.00 million.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Ground Swell Capital LLC purchased a new stake in shares of Roadzen in the second quarter valued at about $26,000. AQR Capital Management LLC grew its holdings in Roadzen by 51.7% during the first quarter. AQR Capital Management LLC now owns 40,559 shares of the company's stock valued at $42,000 after purchasing an additional 13,830 shares during the period. Nuveen LLC purchased a new stake in Roadzen in the first quarter worth $51,000. Bank of New York Mellon Corp lifted its position in shares of Roadzen by 57.2% during the 1st quarter. Bank of New York Mellon Corp now owns 57,456 shares of the company's stock valued at $60,000 after buying an additional 20,902 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Roadzen by 263.3% during the 4th 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. Hedge funds and other institutional investors own 24.73% of the company's stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Roadzen in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".
Get Our Latest Analysis on RDZN
Roadzen Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
