C3.ai (NYSE:AI) Trading Up 1.2%

C3.ai, Inc. (NYSE:AI) shares were up 1.2% during mid-day trading on Tuesday . The stock traded as high as $28.44 and last traded at $28.38. Approximately 595,613 shares changed hands during trading, a decline of 91% from the average daily volume of 6,356,623 shares. The stock had previously closed at $28.05.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, May 30th. Piper Sandler reduced their target price on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and set a $40.00 price target on shares of C3.ai in a report on Wednesday, May 29th. Finally, Morgan Stanley increased their price objective on C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.33.

C3.ai Price Performance

The company has a market cap of $3.35 billion, a PE ratio of -11.47 and a beta of 1.83. The stock has a 50 day simple moving average of $28.32 and a two-hundred day simple moving average of $27.11.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, May 29th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.18. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The firm had revenue of $86.59 million during the quarter, compared to the consensus estimate of $84.45 million. As a group, equities analysts anticipate that C3.ai, Inc. will post -2.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the sale, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of large investors have recently made changes to their positions in the stock. Toth Financial Advisory Corp lifted its position in shares of C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 900 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of C3.ai during the second quarter worth about $28,000. Blue Trust Inc. lifted its stake in shares of C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after buying an additional 615 shares during the period. ICA Group Wealth Management LLC purchased a new stake in C3.ai in the 4th quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of C3.ai during the second quarter worth $29,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.