Rezolve AI (NASDAQ:RZLV) Shares Down 5% - What's Next?

Key Points

• Rezolve AI's stock fell 5% recently, trading at $6.82 with a significant increase in trading volume, reaching over 13 million shares.
• Analysts are optimistic about Rezolve AI, with several firms assigning a "buy" rating and raising price targets; the consensus price target is currently set at $7.31.
• Institutional investors have shown interest in Rezolve AI, as evidenced by several acquiring new stakes in the company during the second quarter, accounting for 27.96% of the stock's ownership.

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report) was down 5% during mid-day trading on Wednesday . The company traded as low as $6.67 and last traded at $6.82. Approximately 13,175,556 shares were traded during trading, an increase of 50% from the average daily volume of 8,780,466 shares. The stock had previously closed at $7.18.

Analyst Ratings Changes

A number of equities analysts have issued reports on RZLV shares. Alliance Global Partners initiated coverage on Rezolve AI in a research note on Friday, August 1st. They set a "buy" rating and a $8.50 price target for the company. Roth Capital reiterated a "buy" rating and set a $9.00 price objective (up from $4.25) on shares of Rezolve AI in a report on Monday, September 15th. Finally, HC Wainwright raised their target price on Rezolve AI from $4.00 to $9.00 and gave the company a "buy" rating in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $7.31.

Rezolve AI Stock Down 5.0%

The firm's 50-day moving average is $4.00 and its two-hundred day moving average is $2.66.

Hedge Funds Weigh In On Rezolve AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. bought a new stake in shares of Rezolve AI in the 2nd quarter valued at about $31,000. Bank of America Corp DE acquired a new stake in shares of Rezolve AI during the 2nd quarter worth approximately $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Rezolve AI in the second quarter valued at approximately $153,000. The Manufacturers Life Insurance Company acquired a new stake in Rezolve AI in the second quarter valued at approximately $96,000. Finally, Invesco Ltd. bought a new position in shares of Rezolve AI during the second quarter valued at $147,000. 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.

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.