Rezolve AI (NASDAQ:RZLV) Trading Down 11.9% – Should You Sell?

Rezolve AI PLC (NASDAQ:RZLV)’s share price fell 11.9% during mid-day trading on Monday . The company traded as low as $5.01 and last traded at $5.24. 37,399,694 shares were traded during trading, an increase of 314% from the average session volume of 9,023,787 shares. The stock had previously closed at $5.95.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RZLV shares. Alliance Global Partners assumed coverage on shares of Rezolve AI in a research note on Friday, August 1st. They issued a “buy” rating and a $8.50 price objective for the company. HC Wainwright lifted their price target on Rezolve AI from $4.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Roth Capital reiterated a “buy” rating and set a $9.00 price target (up previously from $4.25) on shares of Rezolve AI in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $7.31.

Rezolve AI Stock Down 11.9%

The business’s fifty day moving average is $4.22 and its 200 day moving average is $2.78.

Hedge Funds Weigh In On Rezolve AI

Several hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC lifted its stake in Rezolve AI by 62.1% in the 1st quarter. Wolverine Asset Management LLC now owns 21,453 shares of the company’s stock worth $26,000 after purchasing an additional 8,219 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Rezolve AI in the second quarter worth $29,000. FNY Investment Advisers LLC bought a new position in shares of Rezolve AI in the first quarter worth $30,000. Hartford Financial Management Inc. bought a new position in shares of Rezolve AI in the second quarter worth $31,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Rezolve AI in the second quarter worth $31,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Rezolve AI Company Profile

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.