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NWTN (NASDAQ:NWTN) Stock Price Up 13.5% - Should You Buy?

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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.
  • Interested in NWTN? Here are five stocks we like better.

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

Wall Street Analysts Forecast Growth

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

Get Our Latest Analysis on NWTN

NWTN Price Performance

The stock's 50-day moving average price is $1.42 and its 200-day moving average price is $1.18.

Hedge Funds Weigh In On NWTN

A hedge fund recently raised its stake in NWTN stock. Geode Capital Management LLC raised its stake in shares of NWTN Inc. (NASDAQ:NWTN - Free Report) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 220,348 shares of the company's stock after buying 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.

About NWTN

(Get Free Report)

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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