C3.ai (NYSE:AI) Stock Price Up 1.7%

C3.ai, Inc. (NYSE:AI) shares traded up 1.7% on Thursday . The stock traded as high as $28.99 and last traded at $28.56. 1,878,147 shares traded hands during trading, a decline of 57% from the average session volume of 4,351,317 shares. The stock had previously closed at $28.09.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. 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 report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and set a $40.00 price target on shares of C3.ai in a research note on Wednesday, May 29th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, May 30th. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Piper Sandler dropped their price objective on C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Three 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 stock. According to MarketBeat.com, C3.ai has an average rating of “Hold” and a consensus price target of $31.30.

C3.ai Price Performance

The business’s fifty day moving average is $26.79 and its 200-day moving average is $27.12. The firm has a market cap of $3.56 billion, a PE ratio of -12.21 and a beta of 1.83.

C3.ai (NYSE:AI) last posted 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. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. The business had revenue of $86.59 million for the quarter, compared to the consensus estimate of $84.45 million. Analysts forecast that C3.ai, Inc. will post -2.35 EPS for the current year.

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the company’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 sale, the chief financial officer now directly owns 7,390 shares in the company, valued at approximately $203,668.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 34.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the stock. Orion Capital Management LLC bought a new stake in shares of C3.ai during the 3rd quarter worth $26,000. ICA Group Wealth Management LLC bought a new stake in C3.ai during the fourth quarter worth about $29,000. Toth Financial Advisory Corp boosted its holdings in shares of C3.ai by 900.0% in the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares in the last quarter. Comerica Bank increased its position in shares of C3.ai by 305.1% during the 1st quarter. Comerica Bank now owns 1,203 shares of the company’s stock valued at $33,000 after purchasing an additional 906 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its position in C3.ai by 87.9% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock worth $39,000 after buying an additional 632 shares during the last quarter. 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.