Robo.ai (NASDAQ:AIIO) Trading Up 10.7% – Time to Buy?

Robo.ai Inc. (NASDAQ:AIIO)’s stock price traded up 10.7% on Monday . The company traded as high as $2.89 and last traded at $2.89. 709,158 shares traded hands during trading, a decline of 89% from the average daily volume of 6,190,837 shares. The stock had previously closed at $2.61.

Analysts Set New Price Targets

Several brokerages recently weighed in on AIIO. Wall Street Zen cut shares of Robo.ai from a “hold” rating to a “sell” rating in a research report on Thursday, May 14th. Weiss Ratings raised shares of Robo.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Robo.ai Stock Performance

The stock’s 50-day moving average is $3.34 and its 200 day moving average is $2.96.

Institutional Trading of Robo.ai

A hedge fund recently raised its stake in Robo.ai stock. Geode Capital Management LLC boosted its stake in shares of Robo.ai Inc. (NASDAQ:AIIO) by 16.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 220,348 shares of the company’s stock after purchasing an additional 31,004 shares during the period. Geode Capital Management LLC owned approximately 0.09% of Robo.ai worth $353,000 at the end of the most recent quarter. Institutional investors own 0.20% of the company’s stock.

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.