Rezolve AI (NASDAQ:RZLV) Stock Price Down 7.7% - Time to Sell?

Key Points

• Rezolve AI's stock dropped by 7.7% to close at $5.04 amidst increased trading volume of nearly 29.5 million shares.
• Analysts have mixed views, with one downgrading the stock to a "sell" while others raised price targets, leading to an average rating classified as a “Moderate Buy” with a consensus price target of $9.00.
• Institutional investors currently hold 27.96% of Rezolve AI's stock, with significant recent purchases from firms such as Wolverine Asset Management and Ameritas Investment Partners.

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report)'s stock price traded down 7.7% during mid-day trading on Thursday . The company traded as low as $4.96 and last traded at $5.04. 29,460,637 shares changed hands during trading, an increase of 177% from the average session volume of 10,636,266 shares. The stock had previously closed at $5.46.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Rezolve AI from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Northland Securities increased their price objective on Rezolve AI from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Rezolve AI in a report on Wednesday, October 8th. Roth Capital increased their price objective on Rezolve AI from $9.00 to $12.50 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Finally, Cantor Fitzgerald increased their price objective on Rezolve AI from $5.00 to $7.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $9.00.

Rezolve AI Price Performance

The stock has a 50 day simple moving average of $4.94 and a two-hundred day simple moving average of $3.13.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RZLV. Wolverine Asset Management LLC grew its stake in Rezolve AI by 62.1% in 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 in the last quarter. Ameritas Investment Partners Inc. bought a new position in Rezolve AI in the second quarter valued at approximately $29,000. FNY Investment Advisers LLC bought a new position in shares of Rezolve AI during the 1st quarter worth approximately $30,000. Hartford Financial Management Inc. bought a new position in shares of Rezolve AI during the 2nd quarter worth approximately $31,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Rezolve AI during the 2nd quarter worth approximately $31,000. 27.96% of the stock is currently owned by 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.

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