Murchinson Ltd. Acquires New Stake in Roadzen, Inc. (NASDAQ:RDZN)

Murchinson Ltd. acquired a new stake in shares of Roadzen, Inc. (NASDAQ:RDZN) in the second quarter, Holdings Channel reports. The firm acquired 45,167 shares of the company’s stock, valued at approximately $100,000.

Separately, Rhumbline Advisers purchased a new position in shares of Roadzen in the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 24.73% of the company’s stock.

Roadzen Trading Up 1.5 %

Shares of Roadzen stock opened at $1.35 on Tuesday. Roadzen, Inc. has a 1 year low of $1.20 and a 1 year high of $7.17. The firm’s 50-day moving average is $1.66 and its 200 day moving average is $3.28.

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

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.