Friday, March 5, 2021

C3.ai Inc. [AI] moved up 16.80: Why It’s Important

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C3.ai Inc. [NYSE: AI] jumped around 21.26 points on Monday, while shares priced at $147.83 at the close of the session, up 16.80%. The company report on December 9, 2020 that C3.ai Announces Pricing of Initial Public Offering.

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C3.ai, a leading enterprise AI software provider for accelerating digital transformation, announced the pricing of its initial public offering of 15,500,000 shares of its Class A common stock at a price of $42.00 per share. C3.ai has granted the underwriters a 30-day option to purchase up to an additional 2,325,000 shares of Class A common stock at the initial public offering price less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by C3.ai, are expected to be $651 million, excluding any exercise of the underwriters’ option to purchase additional shares.


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The shares are expected to begin trading on the New York Stock Exchange on December 9, 2020, under the ticker symbol “AI” and the offering is expected to close on December 11, 2020, subject to customary closing conditions.

Compared to the average trading volume of 6.57M shares, AI reached a trading volume of 7555807 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about C3.ai Inc. [AI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AI shares is $147.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AI stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for C3.ai Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 04, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on January 04, 2021, representing the official price target for C3.ai Inc. stock. Previously, the target price had yet another raise to $193, while Needham analysts kept a Buy rating on AI stock.

The Average True Range (ATR) for C3.ai Inc. is set at 14.60, with the Price to Sales ratio for AI stock in the period of the last 12 months amounting to 88.37.

How has AI stock performed recently?

C3.ai Inc. [AI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.20.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AI stock in for the last two-week period is set at 60.26, with the RSI for the last a single of trading hit 61.22, and the three-weeks RSI is set at 59.38 for C3.ai Inc. [AI], while it was recorded at 132.52 for the last single week of trading.

C3.ai Inc. [AI]: Deeper insight into the fundamentals

C3.ai Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.00 and a Current Ratio set at 3.00.

Insider trade positions for C3.ai Inc. [AI]

There are presently around $32 million, or 38.00% of AI stock, in the hands of institutional investors. The top three institutional holders of AI stocks are: SCOUT INVESTMENTS, INC. with ownership of 150,755, which is approximately New of the company’s market cap and around 6.30% of the total institutional ownership; AXEL CAPITAL MANAGEMENT, LLC, holding 40,000 shares of the stock with an approximate value of $5.91 million in AI stocks shares; and CUTLER GROUP LP, currently with $3.78 million in AI stock with ownership of nearly New of the company’s market capitalization.

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7 institutional holders increased their position in C3.ai Inc. [NYSE:AI] by around 219,436 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 219,436 shares, according to the latest SEC report filing. AI stock had 7 new institutional investments in for a total of 219,436 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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