NWTN (NASDAQ:NWTN) Stock Price Up 13.5% - What's Next?

Key Points

• NWTN Inc. (NASDAQ:NWTN) saw a significant increase in its stock price, trading up 13.5% to a high of $2.10 during mid-day trading, with volume spiking by 2,298% compared to its average session volume.
• Analyst ratings have changed, with Wall Street Zen upgrading NWTN to a "hold" rating, indicating a cautious outlook for investors.
• Geode Capital Management LLC raised its stake in NWTN by 16.4% in the second quarter, signaling increased institutional interest in the company.

NWTN Inc. (NASDAQ:NWTN - Get Free Report) shares shot up 13.5% during trading on Thursday . The stock traded as high as $2.10 and last traded at $1.93. 9,648,019 shares traded hands during mid-day trading, an increase of 2,298% from the average session volume of 402,367 shares. The stock had previously closed at $1.70.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded NWTN to a "hold" rating in a research note on Friday, June 27th.

NWTN Trading Down 15.9%

The company has a fifty day moving average price of $1.42 and a two-hundred day moving average price of $1.20.

Hedge Funds Weigh In On NWTN

A hedge fund recently raised its stake in NWTN stock. Geode Capital Management LLC boosted its holdings in NWTN Inc. (NASDAQ:NWTN - Free Report) by 16.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,348 shares of the company's stock after acquiring an additional 31,004 shares during the quarter. Geode Capital Management LLC owned 0.09% of NWTN worth $353,000 at the end of the most recent quarter. 0.20% of the stock is currently owned by institutional investors and hedge funds.

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.