Rezolve AI (NASDAQ:RZLV) Trading Up 10.4% - Here's What Happened

Key Points

• Rezolve AI's share price rose by 10.4% to $3.34 after trading volume increased significantly, with approximately 10.4 million shares changing hands.
• A majority of analysts have a positive outlook on Rezolve AI, with a consensus rating of "Buy" and a price target averaging $6.36.
• Institutional investors have increased their stakes in Rezolve AI, with Geode Capital Management growing its position by an impressive 1,100.7% during the second quarter.

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report)'s share price rose 10.4% on Monday . The company traded as high as $3.34 and last traded at $3.34. Approximately 10,399,045 shares changed hands during mid-day trading, an increase of 52% from the average daily volume of 6,820,719 shares. The stock had previously closed at $3.02.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Alliance Global Partners started coverage on Rezolve AI in a research report on Friday, August 1st. They set a "buy" rating and a $8.50 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $4.00 price objective on shares of Rezolve AI in a report on Friday, June 13th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $6.36.

Rezolve AI Stock Performance

The company has a 50-day moving average of $2.68 and a 200 day moving average of $2.20.

Institutional Investors Weigh In On Rezolve AI

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in Rezolve AI by 1,100.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,235,467 shares of the company's stock valued at $3,799,000 after acquiring an additional 1,132,569 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in Rezolve AI in the 4th quarter worth approximately $4,149,000. Jane Street Group LLC acquired a new position in shares of Rezolve AI during the 4th quarter worth approximately $1,650,000. Brown Wealth Management LLC purchased a new stake in shares of Rezolve AI in the second quarter valued at approximately $615,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in shares of Rezolve AI in the fourth quarter valued at approximately $670,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.