NWTN (NASDAQ:NWTN) Shares Down 7.9% - What's Next?

Key Points

• NWTN Inc. shares fell by 7.9% to trade as low as $1.16 and last at $1.28, with a trading volume significantly up at 2,467,312 shares compared to the average of 402,367 shares.
• Wall Street Zen raised NWTN to a "hold" rating amid fluctuating stock performance, evidenced by its 50-day moving average price at $1.47 and its 200-day moving average at $1.07.
• Geode Capital Management LLC increased its stake in NWTN by 16.4% during the second quarter, now holding 220,348 shares, indicating institutional interest in the stock.

NWTN Inc. (NASDAQ:NWTN - Get Free Report) fell 7.9% during mid-day trading on Wednesday . The company traded as low as $1.16 and last traded at $1.28. 2,467,312 shares traded hands during trading, an increase of 513% from the average session volume of 402,367 shares. The stock had previously closed at $1.39.

Analyst Ratings Changes

Separately, Wall Street Zen raised NWTN to a "hold" rating in a report on Friday, June 27th.

NWTN Price Performance

The business's 50 day moving average price is $1.47 and its 200-day moving average price is $1.07.

Institutional Investors Weigh In On NWTN

An institutional investor recently raised its position in NWTN stock. Geode Capital Management LLC grew its position in NWTN Inc. (NASDAQ:NWTN - Free Report) by 16.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 NWTN worth $353,000 as of its most recent SEC filing. Institutional investors own 0.20% of the company's stock.

NWTN 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.

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