Robo.ai Inc. (NASDAQ:AIIO) Short Interest Up 554.7% in May

Robo.ai Inc. (NASDAQ:AIIO) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totaling 2,306,540 shares, an increase of 554.7% from the April 30th total of 352,292 shares. Approximately 23.1% of the company’s stock are short sold. Based on an average trading volume of 53,851,775 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Trading of Robo.ai

An institutional investor recently raised its position in Robo.ai stock. Geode Capital Management LLC boosted its holdings in shares of Robo.ai Inc. (NASDAQ:AIIO) by 16.4% in the 2nd 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 acquiring an additional 31,004 shares during the quarter. Geode Capital Management LLC owned about 0.09% of Robo.ai worth $353,000 at the end of the most recent quarter. 0.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Robo.ai from a “hold” rating to a “sell” rating in a research note on Thursday, May 14th. Weiss Ratings started coverage on Robo.ai in a report on Wednesday, May 13th. They set a “sell (e+)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Robo.ai Price Performance

Shares of NASDAQ:AIIO opened at $2.87 on Thursday. Robo.ai has a 12-month low of $0.54 and a 12-month high of $56.30. The business has a 50 day moving average of $1.75 and a two-hundred day moving average of $5.08.

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.