Short Interest in Robo.ai Inc. (NASDAQ:AIIO) Declines By 38.7%

Robo.ai Inc. (NASDAQ:AIIO) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 1,266,541 shares, a drop of 38.7% from the July 30th total of 2,066,344 shares. Based on an average daily volume of 564,589 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Robo.ai

An institutional investor recently raised its position in Robo.ai stock. Geode Capital Management LLC raised its position in Robo.ai Inc. (NASDAQ:AIIO) by 16.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,348 shares of the company’s stock after acquiring an additional 31,004 shares during the quarter. Geode Capital Management LLC owned approximately 0.09% of Robo.ai worth $353,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.20% of the company’s stock.

Robo.ai Stock Down 7.2%

Shares of Robo.ai stock traded down $0.16 on Tuesday, hitting $2.05. The stock had a trading volume of 506,087 shares, compared to its average volume of 5,322,404. Robo.ai has a one year low of $0.54 and a one year high of $56.30. The stock’s 50-day simple moving average is $3.32 and its two-hundred day simple moving average is $2.60.

Analyst Ratings Changes

AIIO has been the subject of several analyst reports. Wall Street Zen raised shares of Robo.ai from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised Robo.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

About Robo.ai

NWTN Inc operates as a smart passenger vehicle company, provides passenger-centric mobility and green energy solutions in the United States, the United Arab Emirates, and Mainland China. The company develops electric vehicles, including Supersport coupe; and smart passenger vehicles, such as MUSE and ADA. It integrates design, life-style personalization, IoT connectivity, autonomous driving technology, and green energy eco-systems for future mobility solutions. The company also involved in the wholesale and retail of vehicles; and provision of business management, operations, commercialization, as well as design and technology development services.