Rezolve AI (NASDAQ:RZLV) Stock Price Up 6.4% - Here's Why

Key Points

• Rezolve AI's stock price increased by 6.4% to a last trading price of $5.46 with a notable trading volume surge of 37% over its average daily volume.
• Analysts have mixed opinions, with one firm reducing its rating to "sell," while several others, including Alliance Global Partners, HC Wainwright, and Roth Capital, have issued "buy" ratings with target prices ranging from $8.50 to $15.00.
• Approximately 27.96% of Rezolve AI's stock is owned by hedge funds, with Wolverine Asset Management significantly increasing its stake by 62.1% earlier this year.

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report)'s share price rose 6.4% during trading on Monday . The company traded as high as $5.47 and last traded at $5.46. Approximately 14,333,214 shares were traded during trading, an increase of 37% from the average daily volume of 10,425,116 shares. The stock had previously closed at $5.13.

Wall Street Analysts Forecast Growth

RZLV has been the topic of a number of recent analyst reports. Wall Street Zen lowered Rezolve AI from a "hold" rating to a "sell" rating in a report on Saturday. Alliance Global Partners began coverage on Rezolve AI in a research report on Friday, August 1st. They issued a "buy" rating and a $8.50 target price for the company. HC Wainwright raised their target price on Rezolve AI from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Roth Capital raised their target price on Rezolve AI from $9.00 to $12.50 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Finally, Maxim Group raised their target price on Rezolve AI from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.00.

Rezolve AI Price Performance

The company has a 50-day moving average price of $4.80 and a two-hundred day moving average price of $3.07.

Hedge Funds Weigh In On Rezolve AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC grew its position in Rezolve AI by 62.1% during the first quarter. Wolverine Asset Management LLC now owns 21,453 shares of the company's stock worth $26,000 after buying an additional 8,219 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Rezolve AI during the second quarter worth about $29,000. Hartford Financial Management Inc. purchased a new position in Rezolve AI during the second quarter worth about $31,000. B. Riley Wealth Advisors Inc. purchased a new position in Rezolve AI during the second quarter worth about $31,000. Finally, Legal & General Group Plc purchased a new position in Rezolve AI during the second quarter worth about $31,000. 27.96% of the stock is currently 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.

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