Robo.ai (NASDAQ:AIIO) Shares Up 10.7% – Still a Buy?

Shares of Robo.ai Inc. (NASDAQ:AIIO) were up 10.7% during mid-day trading on Monday . The stock traded as high as $2.89 and last traded at $2.89. Approximately 709,158 shares were traded during trading, a decline of 89% from the average session volume of 6,190,837 shares. The stock had previously closed at $2.61.

Analysts Set New Price Targets

AIIO has been the subject of several recent research reports. Weiss Ratings raised Robo.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Wall Street Zen lowered shares of Robo.ai from a “hold” rating to a “sell” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Robo.ai Stock Up 11.1%

The business has a fifty day moving average of $3.42 and a 200 day moving average of $3.01.

Institutional Inflows and Outflows

An institutional investor recently raised its stake 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 the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,348 shares of the company’s stock after purchasing 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. 0.20% of the stock is owned by institutional investors and hedge funds.

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.