Robo.ai (NASDAQ:AIIO) Shares Down 11.1% – What’s Next?

Robo.ai Inc. (NASDAQ:AIIO) shares were down 11.1% on Monday . The stock traded as low as $3.50 and last traded at $3.51. Approximately 500,735 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 6,373,054 shares. The stock had previously closed at $3.95.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AIIO. Weiss Ratings assumed coverage on shares of Robo.ai in a research report on Wednesday, May 13th. They set a “sell (e+)” rating on the stock. Wall Street Zen lowered shares of Robo.ai from a “hold” rating to a “sell” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Robo.ai Stock Performance

The firm has a 50 day moving average price of $3.49 and a 200-day moving average price of $3.08.

Institutional Trading of Robo.ai

An institutional investor recently raised its position in Robo.ai stock. Geode Capital Management LLC grew its holdings in Robo.ai Inc. (NASDAQ:AIIO) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 220,348 shares of the company’s stock after purchasing 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. Institutional investors and hedge funds 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.