Rezolve AI (NASDAQ:RZLV) Stock Price Down 9.5% - Here's Why

Key Points

• Rezolve AI's stock price dropped by 9.5%, closing at $3.11, after trading at a low of $3.10, with trading volume significantly increasing to over 15 million shares.
• Analysts have a consensus rating of "Buy" for Rezolve AI, with price targets ranging from $4.00 to $8.50, and an average target of $6.36.
• Institutional ownership of Rezolve AI stands at 27.96%, with several hedge funds recently acquiring new shares in the company.

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report)'s stock price fell 9.5% during trading on Tuesday . The company traded as low as $3.10 and last traded at $3.11. 15,679,219 shares changed hands during mid-day trading, an increase of 126% from the average session volume of 6,925,506 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

A number of research firms have commented on RZLV. Alliance Global Partners began coverage on shares of Rezolve AI in a research report on Friday, August 1st. They issued a "buy" rating and a $8.50 price target on the stock. HC Wainwright restated a "buy" rating and issued a $4.00 price target on shares of Rezolve AI in a research report on Friday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $6.36.

Rezolve AI Stock Performance

The company's 50 day moving average price is $2.71 and its 200 day moving average price is $2.21.

Institutional Trading of Rezolve AI

Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new stake in shares of Rezolve AI during the second quarter valued at approximately $29,000. Hartford Financial Management Inc. acquired a new position in Rezolve AI in the second quarter valued at approximately $31,000. B. Riley Wealth Advisors Inc. acquired a new position in Rezolve AI in the second quarter valued at approximately $31,000. Legal & General Group Plc acquired a new position in Rezolve AI in the second quarter valued at approximately $31,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Rezolve AI in the second quarter valued at approximately $57,000. 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.

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