Rezolve AI (NASDAQ:RZLV) Stock Price Up 8% - Here's What Happened

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report) shares shot up 8% on Wednesday . The company traded as high as $2.62 and last traded at $2.63. 3,916,236 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 5,633,345 shares. The stock had previously closed at $2.43.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $4.00 target price on shares of Rezolve AI in a research note on Friday, June 13th. 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.com, the company presently has an average rating of "Buy" and a consensus target price of $6.00.

Rezolve AI Stock Down 1.7%

The firm's 50 day moving average is $2.34 and its 200 day moving average is $2.22.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Polar Asset Management Partners Inc. purchased a new position in Rezolve AI during the 4th quarter valued at $4,149,000. Jane Street Group LLC purchased a new position in Rezolve AI during the 4th quarter valued at $1,650,000. Blue Owl Capital Holdings LP purchased a new position in Rezolve AI during the 4th quarter valued at $670,000. Geode Capital Management LLC purchased a new position in Rezolve AI during the 4th quarter valued at $393,000. Finally, NewEdge Advisors LLC purchased a new position in Rezolve AI during the 4th quarter valued at $386,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

Rezolve AI Company Profile

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.