C3.ai (NYSE:AI) Stock Price Down 1.4%

C3.ai, Inc. (NYSE:AI)’s share price dropped 1.4% during mid-day trading on Thursday . The stock traded as low as $26.38 and last traded at $26.38. Approximately 365,830 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 6,192,340 shares. The stock had previously closed at $26.75.

Analysts Set New Price Targets

AI has been the subject of several recent analyst reports. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Wednesday, May 29th. Morgan Stanley upped their price objective on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. Finally, Piper Sandler reduced their price target on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.33.

C3.ai Stock Performance

The stock has a 50 day moving average price of $28.46 and a two-hundred day moving average price of $27.06.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.18. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. The firm had revenue of $86.59 million for the quarter, compared to analyst estimates of $84.45 million. On average, research analysts expect that C3.ai, Inc. will post -2.35 EPS for the current year.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the firm’s stock in a transaction 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 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 hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers increased its stake in shares of C3.ai by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock valued at $3,630,000 after purchasing an additional 572 shares during the last quarter. Versor Investments LP bought a new position in shares of C3.ai in the 2nd quarter valued at $348,000. Banque Cantonale Vaudoise boosted its holdings in shares of C3.ai by 7.7% during the 2nd quarter. Banque Cantonale Vaudoise now owns 13,119 shares of the company’s stock valued at $380,000 after acquiring an additional 936 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of C3.ai during the 2nd quarter valued at $234,000. Finally, Focused Wealth Management Inc boosted its holdings in shares of C3.ai by 84.4% during the 2nd quarter. Focused Wealth Management Inc now owns 20,750 shares of the company’s stock valued at $601,000 after acquiring an additional 9,500 shares in the last quarter. 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.