Rezolve AI (NASDAQ:RZLV) Trading Up 24.1% Following Analyst Upgrade

Key Points

• Rezolve AI's stock price surged by 24.1% after Northland Securities raised its price target from $5.00 to $7.00, currently rating it as "outperform."
• Multiple analysts have increased their price targets for Rezolve AI, with a consensus target price now at $9.00 and an average rating of "Buy."
• Institutional investors currently hold 27.96% of Rezolve AI stock, reflecting growing interest from hedge funds in this mobile commerce company.

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report)'s stock price was up 24.1% during trading on Thursday after Northland Securities raised their price target on the stock from $5.00 to $7.00. Northland Securities currently has an outperform rating on the stock. Rezolve AI traded as high as $6.48 and last traded at $6.28. Approximately 50,280,714 shares traded hands during trading, an increase of 412% from the average daily volume of 9,821,267 shares. The stock had previously closed at $5.06.

A number of other research firms have also commented on RZLV. Cantor Fitzgerald raised their price target on shares of Rezolve AI from $5.00 to $7.00 and gave the stock an "overweight" rating in a research report on Thursday. Maxim Group raised their target price on shares of Rezolve AI from $10.00 to $15.00 and gave the company a "buy" rating in a report on Thursday. Alliance Global Partners assumed coverage on shares of Rezolve AI in a report on Friday, August 1st. They issued a "buy" rating and a $8.50 target price on the stock. Roth Capital raised their target price on shares of Rezolve AI from $9.00 to $12.50 and gave the company a "buy" rating in a report on Thursday. Finally, HC Wainwright raised their target price on shares of Rezolve AI from $9.00 to $10.00 and gave the company a "buy" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $9.00.

Institutional Investors Weigh In On Rezolve AI

A number of hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC lifted its position in shares of 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 acquiring an additional 8,219 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Rezolve AI during the 2nd quarter valued at $29,000. Hartford Financial Management Inc. acquired a new position in shares of Rezolve AI during the 2nd quarter valued at $31,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Rezolve AI during the 2nd quarter valued at $31,000. Finally, Legal & General Group Plc acquired a new position in shares of Rezolve AI during the 2nd quarter valued at $31,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Rezolve AI Stock Performance

The stock's 50-day moving average is $4.34 and its 200-day moving average is $2.83.

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.

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.