C3.ai (NYSE:AI) Stock Price Up 1.2%

C3.ai, Inc. (NYSE:AI) traded up 1.2% during trading on Friday . The company traded as high as $29.13 and last traded at $28.89. 588,900 shares traded hands during trading, a decline of 91% from the average session volume of 6,601,896 shares. The stock had previously closed at $28.56.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AI shares. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Thursday, May 30th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Morgan Stanley increased their price objective on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Canaccord Genuity Group dropped their price objective on C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Finally, Northland Capmk raised C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, C3.ai presently 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 $3.64 billion, a P/E ratio of -12.35 and a beta of 1.83. The firm has a 50-day moving average price of $26.91 and a 200 day moving average price of $27.13.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.18. The firm had revenue of $86.59 million for the quarter, compared to analyst estimates 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, equities analysts anticipate that C3.ai, Inc. will post -2.35 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Hitesh Lath sold 3,005 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total transaction of $82,817.80. Following the transaction, the chief financial officer now directly owns 7,390 shares in the company, valued at approximately $203,668.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On C3.ai

Several institutional investors and hedge funds have recently bought and sold shares of AI. Orion Capital Management LLC bought a new position in C3.ai during the 3rd quarter worth approximately $26,000. Toth Financial Advisory Corp increased its stake in shares of C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 900 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $29,000. Comerica Bank increased its stake in shares of C3.ai by 305.1% during the first quarter. Comerica Bank now owns 1,203 shares of the company’s stock valued at $33,000 after buying an additional 906 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new position in shares of C3.ai during the first quarter valued at approximately $38,000. 38.96% of the stock is currently owned by institutional investors.

C3.ai Company Profile

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.