Rezolve AI (NASDAQ:RZLV) Shares Down 5.7% - Here's What Happened

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report)'s stock price dropped 5.7% on Friday . The company traded as low as $2.76 and last traded at $2.78. Approximately 14,754,311 shares were traded during trading, an increase of 170% from the average daily volume of 5,459,481 shares. The stock had previously closed at $2.95.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RZLV. HC Wainwright reiterated a "buy" rating and issued a $4.00 price objective on shares of Rezolve AI in a research note on Friday, June 13th. Roth Mkm restated a "buy" rating and set a $4.00 target price on shares of Rezolve AI in a research report on Wednesday, March 19th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $6.00.

Rezolve AI Stock Down 5.6%

The firm's 50-day moving average is $2.10 and its 200 day moving average is $2.27.

Institutional Trading of Rezolve AI

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC purchased a new position in shares of Rezolve AI during the 4th quarter worth approximately $393,000. Polar Asset Management Partners Inc. acquired a new stake in Rezolve AI during the 4th quarter valued at $4,149,000. Blue Owl Capital Holdings LP purchased a new position in Rezolve AI during the fourth quarter worth $670,000. Jane Street Group LLC purchased a new position in Rezolve AI during the fourth quarter worth $1,650,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Rezolve AI in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 27.96% of the company's stock.

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.