Rezolve AI (NASDAQ:RZLV) Trading Down 9.5% - Should You Sell?

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) shares fell 9.5% on Tuesday . The stock traded as low as $3.10 and last traded at $3.11. 15,679,219 shares were traded 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in 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 reiterated a "buy" rating and set a $4.00 price objective on shares of Rezolve AI in a research report on Friday, June 13th. Two research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Rezolve AI has a consensus rating of "Buy" and a consensus price target of $6.36.

Rezolve AI Stock Up 2.0%

The stock's fifty day moving average price is $2.79 and its 200 day moving average price is $2.22.

Hedge Funds Weigh In On Rezolve AI

Institutional investors have recently made changes to their positions in the company. Wolverine Asset Management LLC increased its position in Rezolve AI by 62.1% during the 1st 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 during the period. Ameritas Investment Partners Inc. purchased a new position in Rezolve AI during the second quarter valued at approximately $29,000. FNY Investment Advisers LLC purchased a new stake in shares of Rezolve AI during the first quarter valued at about $30,000. Hartford Financial Management Inc. purchased a new stake in shares of Rezolve AI during the second quarter valued at about $31,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Rezolve AI during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 27.96% of the company's stock.

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.