Traders Purchase Large Volume of C3.ai Call Options (NYSE:AI)

C3.ai, Inc. (NYSE:AI) was the recipient of unusually large options trading activity on Monday. Investors purchased 64,300 call options on the company. This is an increase of 39% compared to the average volume of 46,386 call options.

C3.ai Trading Down 0.3 %

Shares of AI traded down $0.07 during mid-day trading on Tuesday, reaching $26.27. The company’s stock had a trading volume of 1,152,516 shares, compared to its average volume of 5,461,404. C3.ai has a 52 week low of $18.85 and a 52 week high of $38.30. The stock has a market cap of $3.28 billion, a PE ratio of -11.26 and a beta of 1.81. The company’s fifty day moving average price is $24.04 and its two-hundred day moving average price is $25.55.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.08. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The business had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.94 million. During the same period in the previous year, the firm posted ($0.56) earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. Research analysts anticipate that C3.ai will post -2.32 EPS for the current year.

Hedge Funds Weigh In On C3.ai

Institutional investors and hedge funds have recently bought and sold shares of the stock. Focus Financial Network Inc. raised its holdings in C3.ai by 34.5% during the 3rd quarter. Focus Financial Network Inc. now owns 45,293 shares of the company’s stock valued at $1,097,000 after buying an additional 11,617 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of C3.ai by 2,501.2% in the third quarter. Pathway Financial Advisers LLC now owns 8,844 shares of the company’s stock valued at $214,000 after acquiring an additional 8,504 shares during the period. Cavalier Investments LLC raised its stake in shares of C3.ai by 6.6% during the third quarter. Cavalier Investments LLC now owns 34,113 shares of the company’s stock valued at $827,000 after acquiring an additional 2,107 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of C3.ai by 24.7% during the third quarter. PFG Investments LLC now owns 22,273 shares of the company’s stock worth $540,000 after purchasing an additional 4,405 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of C3.ai by 2.8% during the third quarter. Allworth Financial LP now owns 35,915 shares of the company’s stock worth $870,000 after purchasing an additional 994 shares during the period. 38.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AI has been the subject of a number of recent analyst reports. DA Davidson reduced their price target on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Piper Sandler lowered their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Canaccord Genuity Group cut their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Morgan Stanley decreased their price objective on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. Finally, Wedbush cut their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.70.

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.