Robo.ai Inc. (NASDAQ:AIIO) Sees Significant Decline in Short Interest

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

Hedge Funds Weigh In On Robo.ai

An institutional investor recently raised its stake in Robo.ai stock. Geode Capital Management LLC lifted its position in shares of Robo.ai Inc. (NASDAQ:AIIO) by 16.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 about 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 and hedge funds.

Robo.ai Stock Performance

Shares of NASDAQ:AIIO opened at $2.27 on Monday. Robo.ai has a 52-week low of $0.54 and a 52-week high of $56.30. The firm has a fifty day moving average of $3.34 and a 200 day moving average of $2.61.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AIIO. Wall Street Zen upgraded shares of Robo.ai from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded Robo.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus 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.