Robo.ai (NASDAQ:AIIO) Trading Down 6.6% – What’s Next?

Robo.ai Inc. (NASDAQ:AIIO)’s share price traded down 6.6% on Tuesday . The stock traded as low as $2.95 and last traded at $2.97. Approximately 238,228 shares traded hands during trading, a decline of 96% from the average session volume of 5,792,681 shares. The stock had previously closed at $3.18.

Analyst Upgrades and Downgrades

AIIO has been the subject of several analyst reports. Weiss Ratings lowered shares of Robo.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Wall Street Zen downgraded Robo.ai from a “hold” rating to a “sell” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Robo.ai Stock Performance

The stock has a 50 day moving average price of $3.36 and a 200 day moving average price of $2.78.

Hedge Funds Weigh In On Robo.ai

An institutional investor recently raised its stake in Robo.ai stock. Geode Capital Management LLC raised its position in shares of Robo.ai Inc. (NASDAQ:AIIO) by 16.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,348 shares of the company’s stock after purchasing an additional 31,004 shares during the period. Geode Capital Management LLC owned 0.09% of Robo.ai worth $353,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 0.20% of the company’s stock.

About Robo.ai

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. It integrates design, life-style personalization, IoT connectivity, autonomous driving technology, and green energy eco-systems for future mobility solutions. The company also involved in the wholesale and retail of vehicles; and provision of business management, operations, commercialization, as well as design and technology development services.