Rezolve AI (NASDAQ:RZLV) Stock Price Down 8% – Should You Sell?

Rezolve AI PLC (NASDAQ:RZLV) dropped 8% during mid-day trading on Monday . The stock traded as low as $2.73 and last traded at $2.7150. Approximately 7,051,956 shares changed hands during trading, a decline of 34% from the average daily volume of 10,751,572 shares. The stock had previously closed at $2.95.

Wall Street Analyst Weigh In

RZLV has been the subject of a number of research reports. Northland Securities raised their price target on shares of Rezolve AI from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Roth Capital raised their target price on Rezolve AI from $9.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rezolve AI in a research report on Wednesday, October 8th. Maxim Group upped their price target on Rezolve AI from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, HC Wainwright raised their price objective on Rezolve AI from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Rezolve AI Trading Down 6.8%

The firm’s 50-day moving average price is $5.29 and its 200 day moving average price is $3.58.

Institutional Trading of Rezolve AI

Several institutional investors and hedge funds have recently modified their holdings of RZLV. Verition Fund Management LLC lifted its holdings in shares of Rezolve AI by 106.5% in the third quarter. Verition Fund Management LLC now owns 31,800 shares of the company’s stock valued at $158,000 after purchasing an additional 16,400 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rezolve AI by 37.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,142 shares of the company’s stock valued at $339,000 after buying an additional 18,395 shares during the last quarter. Clear Street Group Inc. bought a new position in Rezolve AI during the 3rd quarter valued at $373,000. Bank of America Corp DE boosted its holdings in Rezolve AI by 151.0% during the 3rd quarter. Bank of America Corp DE now owns 129,742 shares of the company’s stock worth $646,000 after acquiring an additional 78,052 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in Rezolve AI during the 3rd quarter worth $81,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.