Rezolve AI (NASDAQ:RZLV) Shares Down 5% - Time to Sell?

Key Points

• Rezolve AI's stock price fell by 5%, trading as low as $4.70, with a significant increase in trading volume of 240% compared to its average daily volume.
• Analysts have set optimistic price targets for Rezolve AI, with recommendations ranging from $8.50 to $9.00, and an average target price of $7.31, reflecting a consensus rating of "Buy."
• Institutional investors are increasing their stakes in Rezolve AI, with notable purchases including Wolverine Asset Management growing its holdings by 62.1% in the first quarter.

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report)'s stock price dropped 5% during trading on Tuesday . The stock traded as low as $4.70 and last traded at $4.98. Approximately 31,047,414 shares traded hands during mid-day trading, an increase of 240% from the average daily volume of 9,145,007 shares. The stock had previously closed at $5.24.

Analysts Set New Price Targets

RZLV has been the topic of several recent analyst reports. Alliance Global Partners assumed coverage on Rezolve AI in a research note on Friday, August 1st. They issued a "buy" rating and a $8.50 price target on the stock. HC Wainwright upped their price objective on Rezolve AI from $4.00 to $9.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Finally, Roth Capital restated a "buy" rating and set a $9.00 price objective (up previously from $4.25) on shares of Rezolve AI in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat.com, Rezolve AI has an average rating of "Buy" and a consensus target price of $7.31.

Rezolve AI Trading Down 5.0%

The company has a fifty day moving average price of $4.27 and a 200 day moving average price of $2.80.

Hedge Funds Weigh In On Rezolve AI

Several institutional investors have recently made changes to their positions in RZLV. Wolverine Asset Management LLC grew its holdings in shares of Rezolve AI by 62.1% during the first quarter. Wolverine Asset Management LLC now owns 21,453 shares of the company's stock valued at $26,000 after purchasing an additional 8,219 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Rezolve AI in the 2nd quarter worth approximately $29,000. FNY Investment Advisers LLC bought a new position in Rezolve AI in the 1st quarter worth approximately $30,000. Hartford Financial Management Inc. bought a new position in Rezolve AI in the 2nd quarter worth approximately $31,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Rezolve AI during the 2nd quarter worth $31,000. 27.96% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.