NWTN (NASDAQ:NWTN) Trading Down 4.1%

NWTN Inc. (NASDAQ:NWTN) shares dropped 4.1% on Wednesday . The company traded as low as $6.81 and last traded at $6.95. Approximately 6,851 shares were traded during trading, a decline of 85% from the average daily volume of 45,460 shares. The stock had previously closed at $7.25.

NWTN Stock Performance

The stock’s 50 day simple moving average is $5.94 and its two-hundred day simple moving average is $7.17.

Institutional Investors Weigh In On NWTN

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of NWTN by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 184,334 shares of the company’s stock valued at $1,963,000 after purchasing an additional 2,140 shares in the last quarter. Mint Tower Capital Management B.V. acquired a new stake in shares of NWTN in the 4th quarter valued at $817,000. State Street Corp acquired a new stake in shares of NWTN in the 1st quarter valued at $1,166,000. Susquehanna International Group LLP acquired a new stake in shares of NWTN in the 4th quarter valued at $1,002,000. Finally, Jane Street Group LLC acquired a new stake in shares of NWTN in the 4th quarter valued at $626,000. Institutional investors and hedge funds own 0.20% of the company’s stock.

About NWTN

NWTN Inc operates as a smart passenger vehicle company, provides passenger-centric mobility and green energy solutions in the United States, the United Arab Emirates, and Mainland China. The company develops electric vehicles, including Supersport coupe; and smart passenger vehicles, such as MUSE and ADA.