Roadzen (NASDAQ:RDZN) Now Covered by Analysts at ThinkEquity

Equities research analysts at ThinkEquity started coverage on shares of Roadzen (NASDAQ:RDZN) in a research report issued on Monday, Benzinga reports. The firm set a “buy” rating and a $6.00 price target on the stock.

Roadzen Stock Performance

Shares of Roadzen stock opened at $0.99 on Monday. The firm has a 50-day moving average of $1.35 and a 200-day moving average of $2.30. Roadzen has a 52-week low of $0.80 and a 52-week high of $7.17. The stock has a market cap of $67.54 million, a PE ratio of -0.33 and a beta of 0.63.

Roadzen (NASDAQ:RDZN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter. Roadzen had a negative net margin of 287.82% and a negative return on equity of 31,166.20%. The business had revenue of $8.93 million during the quarter.

Hedge Funds Weigh In On Roadzen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDZN. Rhumbline Advisers bought a new stake in shares of Roadzen during the 2nd quarter worth approximately $39,000. Bank of New York Mellon Corp bought a new position in Roadzen in the second quarter valued at approximately $59,000. Finally, Murchinson Ltd. acquired a new position in Roadzen during the second quarter valued at approximately $100,000. 24.73% of the stock is owned by institutional investors and hedge funds.

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.