Robo.ai (NASDAQ:AIIO) Shares Gap Down – Here’s What Happened

Robo.ai Inc. (NASDAQ:AIIO) gapped down prior to trading on Friday . The stock had previously closed at $2.97, but opened at $2.90. Robo.ai shares last traded at $2.93, with a volume of 95,895 shares.

Analyst Upgrades and Downgrades

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

Robo.ai Stock Down 4.7%

The stock has a 50-day moving average of $3.36 and a 200 day moving average of $2.66.

Institutional Investors Weigh In On Robo.ai

A hedge fund recently raised its position in Robo.ai stock. Geode Capital Management LLC boosted its holdings in Robo.ai Inc. (NASDAQ:AIIO) by 16.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 220,348 shares of the company’s stock after buying an additional 31,004 shares during the period. Geode Capital Management LLC owned approximately 0.09% of Robo.ai worth $353,000 as of its most recent SEC filing. 0.20% of the stock is currently owned by institutional investors.

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.