Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. C3.ai Inc shares valued at $11,722 were sold by Parkkinen Juho on Dec 26 ’23. At $28.80 per share, Parkkinen Juho sold 407 shares. The insider’s holdings dropped to 295,815 shares worth approximately $8.06 million following the completion of this transaction.
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Also, Parkkinen Juho sold 685 shares, netting a total of over 22,030 in proceeds. Following the sale of shares at $32.16 each, the insider now holds 296,222 shares.
Before that, ABBO EDWARD Y had sold 45,548 shares from its account. In a trade valued at $1,399,690, the Chief Technology Officer traded C3.ai Inc shares for $30.73 each. Upon closing the transaction, the insider’s holdings decreased to 45,548 shares, worth approximately $19.83 million.
As published in a research note from Oppenheimer on November 21, 2023, C3.ai Inc [AI] has been rated up from a Perform to an Outperform and the price target has been revised to $40. Analysts at Northland Capital started covering the stock with ‘”a Market perform”‘ outlook in a report released in late July. As of June 29, 2023, Oppenheimer has initiated its “Perform” rating for AI. Earlier on June 01, 2023, Wedbush upgraded its rating. Their new recommendation was “an Outperform” for AI stock which previously was a “a Neutral”.
Analyzing AI Stock Performance
During the last five days, there has been a drop of approximately -4.85%. Over the course of the year, C3.ai Inc shares have dropped approximately -5.05%. Shares of the company reached a 52-week high of $38.30 on 02/29/24 and a 52-week low of $23.58 on 01/18/24. A 50-day SMA is recorded $28.20, while a 200-day SMA reached $30.31. Nevertheless, trading volume fell to 3.52 million shares from 5.22 million shares the previous day.
Support And Resistance Levels for C3.ai Inc (AI)
According to the 24-hour chart, there is a support level at 26.84, which, if violated, would cause prices to drop to 26.41. In the upper region, resistance lies at 27.62. The next price resistance is at 27.97. RSI (Relative Strength Index) is 41.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.67, which suggests the price will decrease in the coming days. Percent R is at 93.46%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is C3.ai Inc subject to short interest?
Stocks of C3.ai Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -5.0 million shares to 34.33 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 39.33 million shares. A decline of -14.56% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.43 of the overall float, the days-to-cover ratio (short ratio) decline to 3.43.
