Robo.ai (NASDAQ:AIIO) Shares Up 8.4% – What’s Next?

Shares of Robo.ai Inc. (NASDAQ:AIIO) shot up 8.4% on Monday . The stock traded as high as $3.28 and last traded at $3.23. Approximately 568,934 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 5,825,285 shares. The stock had previously closed at $2.98.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings cut Robo.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Wall Street Zen downgraded shares of Robo.ai from a “hold” rating to a “sell” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Robo.ai currently has an average rating of “Sell”.

Robo.ai Trading Down 6.3%

The company has a fifty day simple moving average of $3.36 and a 200-day simple moving average of $2.77.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Robo.ai stock. Geode Capital Management LLC boosted its holdings in Robo.ai Inc. (NASDAQ:AIIO) by 16.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 220,348 shares of the company’s stock after buying an additional 31,004 shares during the period. Geode Capital Management LLC owned 0.09% of Robo.ai worth $353,000 as of its most recent SEC filing. 0.20% of the stock is currently owned by institutional investors.

Robo.ai Company Profile

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.