$RCRT A Cheap AI Stock
AI is the new hot topic in town at the moment with NVIDIA Corporation (NASDAQ: NVDA), Palantir Technologies Inc. (NYSE: PLTR), and C3.ai, Inc. (NYSE: AI) leading the pack. With many investors looking to capitalize on the ongoing AI craze, Recruiter.com Group, Inc. (NASDAQ: RCRT) is one of the artificial intelligence stocks to watch thanks to being one of the cheapest AI stocks. As C3.ai is set to release its Q4 2023 report today, RCRT stock and other artificial intelligence stocks could soar given AI’s history of beating estimates every quarter since listing on the NYSE.
RCRT Fundamentals
New Product
Artificial intelligence stocks are witnessing a lot of interest as AI gets wider implementations in almost every sector. One of these sectors is employment services and recruiting where RCRT is operating through its new AI-driven web application – Candidate Pitch – marking its shift from a traditional recruiting company to an AI-focused company. Candidate Pitch operates by creating a tailored professional summary for job seekers using their resume and its job matching feature will seamlessly adapt their summary to align with job descriptions.
A Cheap AI stock
As one of the cheapest artificial intelligence stocks in the market at the moment, RCRT is prone to running on industry-wide catalysts like its recent 17% run on NVDA’s impressive Q1 results. At the same time, RCRT has a low float of 11.3 million which makes it prone to surging on any positive news either related to the company or the AI sector.
On that note, C3.ai is set to release its Q4 2023 earnings report on May 31 which could be a major catalyst for artificial intelligence stocks. Considering that C3.ai has constantly beaten analyst estimates since becoming a public company, it can be expected that AI will beat estimates again. In this way, RCRT stock and other artificial intelligence stocks could maintain their momentum and continue running this week. Since RCRT stock is one of the cheapest AI stocks, it could present an opportunity for investors looking for major percentage gains.
RCRT Financials
In its Q1 2023 report, RCRT’s assets decreased 14% QoQ from $14 million to $12 million, and its cash and cash equivalents decreased 75% QoQ from $946 thousand to $238 thousand. RCRT’s total liabilities increased by 3% QoQ from $9 million to $9.3 million.
Revenue also decreased 52% YoY from $6.8 million to $3.2 million. Operating costs decreased almost 50% from $6.8 million to $3.5 million, which contributed to the operating loss decrease of 31% YoY from $4.1 million to $2.8 million, which amounted to a net loss of $3.3 million – a 20% decrease YoY.
Technical Analysis
RCRT stock’s trend is neutral with the stock trading in a sideways channel between $0.1904 and $0.2237. Looking at the indicators, the stock is trading above the 50, and 21 MAs which are bullish indications, however, it is currently testing the 200 MA as resistance. Meanwhile, the RSI is neutral at 58 and the MACD is bullish.
As for the fundamentals, RCRT stock’s most relevant catalyst is the growing AI craze and C3.ai’s upcoming Q4 earnings. If C3.ai beats estimates again today, RCRT may soar given its low float of 11.3 million.
RCRT Forecast
As AI applications become more widespread, investors’ interest in the industry will grow, and with the launch of its new product Candidate Pitch, RCRT stock became one of the cheapest artificial intelligence stocks in the market. That coupled with RCRT’s low float may cause the stock to soar in response to any favorable news about other artificial intelligence stocks. All of this makes RCRT stock an excellent choice for investors looking to hop onto the AI bandwagon.
RCRT Fundamentals
New Product
Artificial intelligence stocks are witnessing a lot of interest as AI gets wider implementations in almost every sector. One of these sectors is employment services and recruiting where RCRT is operating through its new AI-driven web application – Candidate Pitch – marking its shift from a traditional recruiting company to an AI-focused company. Candidate Pitch operates by creating a tailored professional summary for job seekers using their resume and its job matching feature will seamlessly adapt their summary to align with job descriptions.
A Cheap AI stock
As one of the cheapest artificial intelligence stocks in the market at the moment, RCRT is prone to running on industry-wide catalysts like its recent 17% run on NVDA’s impressive Q1 results. At the same time, RCRT has a low float of 11.3 million which makes it prone to surging on any positive news either related to the company or the AI sector.
On that note, C3.ai is set to release its Q4 2023 earnings report on May 31 which could be a major catalyst for artificial intelligence stocks. Considering that C3.ai has constantly beaten analyst estimates since becoming a public company, it can be expected that AI will beat estimates again. In this way, RCRT stock and other artificial intelligence stocks could maintain their momentum and continue running this week. Since RCRT stock is one of the cheapest AI stocks, it could present an opportunity for investors looking for major percentage gains.
RCRT Financials
In its Q1 2023 report, RCRT’s assets decreased 14% QoQ from $14 million to $12 million, and its cash and cash equivalents decreased 75% QoQ from $946 thousand to $238 thousand. RCRT’s total liabilities increased by 3% QoQ from $9 million to $9.3 million.
Revenue also decreased 52% YoY from $6.8 million to $3.2 million. Operating costs decreased almost 50% from $6.8 million to $3.5 million, which contributed to the operating loss decrease of 31% YoY from $4.1 million to $2.8 million, which amounted to a net loss of $3.3 million – a 20% decrease YoY.
Technical Analysis
RCRT stock’s trend is neutral with the stock trading in a sideways channel between $0.1904 and $0.2237. Looking at the indicators, the stock is trading above the 50, and 21 MAs which are bullish indications, however, it is currently testing the 200 MA as resistance. Meanwhile, the RSI is neutral at 58 and the MACD is bullish.
As for the fundamentals, RCRT stock’s most relevant catalyst is the growing AI craze and C3.ai’s upcoming Q4 earnings. If C3.ai beats estimates again today, RCRT may soar given its low float of 11.3 million.
RCRT Forecast
As AI applications become more widespread, investors’ interest in the industry will grow, and with the launch of its new product Candidate Pitch, RCRT stock became one of the cheapest artificial intelligence stocks in the market. That coupled with RCRT’s low float may cause the stock to soar in response to any favorable news about other artificial intelligence stocks. All of this makes RCRT stock an excellent choice for investors looking to hop onto the AI bandwagon.
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