Rezolve AI (NASDAQ:RZLV) Shares Down 4% - What's Next?

Key Points

• Rezolve AI shares experienced a 4% drop during midday trading, falling to a low of $6.56 and last trading at $6.83, with trading volume increasing significantly by 78% compared to its average.
• Analysts have positive views on Rezolve AI, with several firms raising price targets and maintaining "buy" ratings; one analyst set a price objective of $9.00.
• 27.96% of Rezolve AI's stock is owned by institutional investors, with notable increases in holdings from firms like Wolverine Asset Management and Ameritas Investment Partners.

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report) shares were down 4% during mid-day trading on Thursday . The stock traded as low as $6.56 and last traded at $6.83. Approximately 15,088,623 shares traded hands during mid-day trading, an increase of 78% from the average daily volume of 8,493,671 shares. The stock had previously closed at $7.11.

Analysts Set New Price Targets

Several analysts recently issued reports on RZLV shares. Alliance Global Partners started coverage on shares of Rezolve AI in a report on Friday, August 1st. They issued a "buy" rating and a $8.50 price objective on the stock. Roth Capital restated a "buy" rating and issued a $9.00 price objective (up from $4.25) on shares of Rezolve AI in a report on Monday. Finally, HC Wainwright boosted their price objective on shares of Rezolve AI from $4.00 to $9.00 and gave the company a "buy" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $7.31.

Rezolve AI Price Performance

The firm has a 50-day simple moving average of $3.66 and a two-hundred day simple moving average of $2.51.

Hedge Funds Weigh In On Rezolve AI

Institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC grew its position in Rezolve AI by 62.1% in the 1st quarter. Wolverine Asset Management LLC now owns 21,453 shares of the company's stock valued at $26,000 after acquiring an additional 8,219 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Rezolve AI in the 2nd quarter valued at about $29,000. FNY Investment Advisers LLC acquired a new position in Rezolve AI in the 1st quarter valued at about $30,000. Hartford Financial Management Inc. purchased a new stake in shares of Rezolve AI during the second quarter worth approximately $31,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Rezolve AI during the second quarter worth approximately $31,000. 27.96% of the stock is owned by institutional investors and hedge funds.

About Rezolve AI

Rezolve AI Plc operates in the mobile commerce industry with its cutting-edge engagement platform powered by artificial intelligence and machine learning. It develops AI-based mobile commerce and engagement solutions, simplifying the purchasing process by providing relevant information and facilitating seamless transactions with a single tap.

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