Rezolve AI (NASDAQ:RZLV) Trading Up 3.8% - What's Next?

Key Points

• Shares of Rezolve AI (NASDAQ:RZLV) increased by 3.8%, trading as high as $2.89 during the session, although trading volume was down significantly at 1,853,954 shares.
• HC Wainwright has reiterated a "buy" rating with a price target of $4.00, while analysts suggest an average target of $6.00 for the stock.
• Recent institutional activity includes significant purchases and stake increases from several large investors, indicating growing confidence in Rezolve AI.

Rezolve AI PLC (NASDAQ:RZLV - Get Free Report)'s stock price was up 3.8% on Wednesday . The stock traded as high as $2.89 and last traded at $2.86. Approximately 1,853,954 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 6,696,326 shares. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RZLV shares. Alliance Global Partners started coverage on shares of Rezolve AI in a report on Friday. They issued a "buy" rating and a $8.50 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $4.00 price objective on shares of Rezolve AI in a research note on Friday, June 13th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $6.36.

Rezolve AI Price Performance

The company's 50 day moving average is $2.48 and its 200 day moving average is $2.19.

Institutional Trading of Rezolve AI

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hartford Financial Management Inc. acquired a new position in Rezolve AI during the second quarter worth about $31,000. Vanguard Personalized Indexing Management LLC acquired a new position in Rezolve AI during the second quarter worth about $57,000. Wolverine Asset Management LLC raised 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 acquiring an additional 8,219 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Rezolve AI during the fourth quarter worth about $88,000. Finally, Retireful LLC acquired a new position in Rezolve AI during the second quarter worth about $75,000. Institutional investors and hedge funds own 27.96% of the company's stock.

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.