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- 1 C3.ai stock has continuously followed a declining path and lost over 12% of its price in the past six months.
- 2 Despite reporting positive revenue, a decline of 12% was seen in the C3.ai stock price.
- 3 When writing, AI stock was trading below 20, 50, 100, and the 200-day exponential moving average (EMA).
C3.ai stock has impressed its long-term investors as its price rose over 125% in a year-to-date time frame. On September 28, AI stock opened at $24.14, and after adding 3.03% to its trading price, it closed at $25.16.
C3.ai (AI) Stock Price Analysis
In the 52-week time frame, C3.ai stock peaked at $48.87 and lowest traded at $10.16. Despite Year-to-Date surges, a decline of 13.39% is seen in AI stock trading price.
The annual price target of AI stock is $26.09; the target is 3.70% greater than its current trading price. When writing, C3.ai stock was trading below 20, 50, 100, and the 200-day exponential moving average (EMA).
The MACD and signal lines move parallel to each other in the negative territory. The RSI and RSI-based MA lines are also tumbling in the negative territory. C3.ai does not pay dividends to its shareholders.
As per market analysts, AI stock is expected to decline further in the coming sessions as significant bear dominance is seen below the histogram.
At the beginning of August, C3.ai’s share price attempted to break the $45.00 hurdle. But the attempt was not successful, and prices reverted down. It began to decline by forming lower lows and broke the crucial support of $30.00.
On September 6, 2023, the company released its revenue for Q2 2023; however, despite positive revenue, a sharp decline of more than 12% was seen in the C3.ai stock trading price.
C3.ai (AI) Financial Updates
C3.ai Inc. released its quarterly earnings on September 6, 2023. It reported an EPS of -0.09 and revenue of $72.362 Million. The company beats the EPS estimate by 48.03% and the revenue estimate by 1.12%.
TradingView data states that 98.897 Million C3.ai shares are free-floating, and the remaining 15.805 Million shares are closely held.
In 2022, the company generated $266.80 Million in revenue from which its net income was negative $268.84 Million and its profit margin was negative 100.77%.
C3.ai, Inc. engages in the provision of enterprise artificial intelligence software for digital transformation. It delivers the C3.AI suite for developing, deploying, and operating large-scale AI, predictive analytics, and Internet of Things applications in addition to a portfolio of turn-key AI applications.
Technical Levels
Support Level: $22.46 & $20.72
Resistance Level: $27.13 & $30.97
Conclusion:
C3.ai stock has been struggling for six months, and a significant decline in the trading price has troubled investors. Despite its short-term decline, it is still among the most favored stocks of analysts in the AI sector. The observers believe a short-term reversal is expected in the coming session.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
