Xiao-I (NASDAQ:AIXI) Stock Price Down 6.4% – Here’s Why

Xiao-I Co. (NASDAQ:AIXI) shares fell 6.4% during trading on Friday . The company traded as low as $3.84 and last traded at $4.26. 86,457 shares changed hands during trading, a decline of 37% from the average session volume of 137,008 shares. The stock had previously closed at $4.55.

Xiao-I Stock Performance

The stock’s 50-day simple moving average is $5.07.

Institutional Trading of Xiao-I

An institutional investor recently raised its position in Xiao-I stock. Steward Partners Investment Advisory LLC lifted its stake in shares of Xiao-I Co. (NASDAQ:AIXI) by 729.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,300 shares of the company’s stock after purchasing an additional 37,200 shares during the quarter. Steward Partners Investment Advisory LLC owned about 0.44% of Xiao-I worth $244,000 at the end of the most recent reporting period. 3.99% of the stock is owned by hedge funds and other institutional investors.

Xiao-I Company Profile

Xiao-I Corporation, through its subsidiary, Shanghai Xiao-i Robot Technology Co, Ltd., provides software services in the People’s Republic of China. It offers conversational AI platform that uses deep learning, data enhancement, active learning technologies for dialog management, context processing mechanisms, and driven by a learning system; knowledge fusion platform which integrates Q&A, documents, multimedia, information forms, business processes, knowledge graphs, and multimodal; intelligence voice platform to enhance intelligent speech solutions, realizing the macro processes of intelligent IVP, intelligent outbound calls, speech analysis, agent assistance, and human-computer interaction; and hyperautomation platform that integrates technologies, such as OCR, NLP, and visualized data mining and analysis that enables users to realize business and process automation.