Robo.ai (NASDAQ:AIIO) Stock Price Down 6.6% – What’s Next?

Robo.ai Inc. (NASDAQ:AIIO) dropped 6.6% during trading on Tuesday . The company traded as low as $2.95 and last traded at $2.97. 238,228 shares traded hands during trading, a decline of 96% from the average daily volume of 5,792,681 shares. The stock had previously closed at $3.18.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings lowered Robo.ai from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. 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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Robo.ai Trading Down 7.2%

The business’s fifty day simple moving average is $3.36 and its 200-day simple moving average is $2.78.

Institutional Trading of Robo.ai

A hedge fund recently raised its stake in Robo.ai stock. Geode Capital Management LLC boosted its stake in Robo.ai Inc. (NASDAQ:AIIO) by 16.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission. 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.