Shares of Robo.ai Inc. (NASDAQ:AIIO – Get Free Report) shot up 8.4% during trading on Monday . The company traded as high as $3.28 and last traded at $3.23. Approximately 568,934 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 5,825,285 shares. The stock had previously closed at $2.98.

AIIO has been the subject of several recent analyst reports. Weiss Ratings cut shares of Robo.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. 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.com, the company has an average rating of “Sell”.

View Our Latest Stock Report on AIIO

The company’s 50-day moving average price is $3.35 and its 200-day moving average price is $2.80.

An institutional investor recently raised its stake in Robo.ai stock. Geode Capital Management LLC raised its stake in Robo.ai Inc. (NASDAQ:AIIO – Free Report) by 16.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,348 shares of the company’s stock after acquiring an additional 31,004 shares during the period. Geode Capital Management LLC owned 0.09% of Robo.ai worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 0.20% of the company’s stock.

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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.

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