C3.ai, Inc. (NYSE:AI – Get Free Report)’s share price traded up 1.7% during trading on Thursday . The stock traded as high as $28.99 and last traded at $28.56. Approximately 1,878,147 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 4,351,317 shares. The stock had previously closed at $28.09.
Analyst Ratings Changes
Several equities analysts have recently weighed in on AI shares. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Northland Securities upgraded shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research note on Thursday, May 30th. Canaccord Genuity Group decreased their target price on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Morgan Stanley increased their price target on shares of C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Finally, Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a report on Wednesday, May 29th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.30.
C3.ai Stock Performance
The stock has a market capitalization of $3.56 billion, a P/E ratio of -12.21 and a beta of 1.83. The firm has a fifty day moving average price of $26.79 and a two-hundred day moving average price of $27.12.
C3.ai (NYSE:AI – Get Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.18. The company had revenue of $86.59 million during the quarter, compared to analysts’ expectations of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. On average, research analysts anticipate that C3.ai, Inc. will post -2.35 earnings per share for the current fiscal year.
Insider Transactions at C3.ai
In related news, CFO Hitesh Lath sold 3,005 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the completion of the sale, the chief financial officer now directly owns 7,390 shares in the company, valued at $203,668.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 34.00% of the company’s stock.
Hedge Funds Weigh In On C3.ai
Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in shares of C3.ai by 4,860.6% in the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock worth $865,000 after purchasing an additional 31,302 shares during the period. Pathway Financial Advisers LLC purchased a new position in shares of C3.ai during the 1st quarter valued at $38,000. Cetera Advisors LLC bought a new position in C3.ai in the 1st quarter worth $465,000. Virtu Financial LLC increased its stake in C3.ai by 541.6% in the 1st quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock worth $2,943,000 after buying an additional 91,774 shares in the last quarter. Finally, Montchanin Asset Management LLC purchased a new stake in C3.ai in the 1st quarter worth $297,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.
About C3.ai
C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.