Robo.ai (NASDAQ:AIIO) Trading Down 6.6% – Time to Sell?

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

Analysts Set New Price Targets

Several brokerages have commented on AIIO. Wall Street Zen cut shares of Robo.ai from a “hold” rating to a “sell” rating in a research report on Thursday, May 14th. Weiss Ratings downgraded Robo.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Robo.ai currently has an average rating of “Sell”.

Robo.ai Trading Down 0.7%

The company’s 50-day simple moving average is $3.36 and its 200-day simple moving average is $2.75.

Hedge Funds Weigh In On Robo.ai

An institutional investor recently raised its stake in Robo.ai stock. Geode Capital Management LLC boosted its holdings in shares of Robo.ai Inc. (NASDAQ:AIIO) by 16.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 220,348 shares of the company’s stock after buying an additional 31,004 shares during the quarter. Geode Capital Management LLC owned approximately 0.09% of Robo.ai worth $353,000 at the end of the most recent reporting period. 0.20% of the stock is owned by institutional investors and hedge funds.

Robo.ai Company Profile

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.