C3.ai (NYSE:AI) Stock Price Down 0.5%

C3.ai, Inc. (NYSE:AI)’s share price traded down 0.5% during mid-day trading on Monday . The company traded as low as $27.37 and last traded at $27.59. 518,375 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 6,264,301 shares. The stock had previously closed at $27.73.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research report on Wednesday, May 29th. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Thursday, May 30th. Finally, Piper Sandler decreased their target price on C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.33.

C3.ai Price Performance

The company has a market capitalization of $3.40 billion, a P/E ratio of -11.79 and a beta of 1.83. The company has a fifty day moving average price of $28.36 and a two-hundred day moving average price of $27.09.

C3.ai (NYSE:AI) last announced its 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 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 analysts’ expectations of $84.45 million. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.35 earnings per share 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 stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the sale, the chief financial officer now directly owns 7,390 shares in the company, valued at $203,668.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On C3.ai

Several institutional investors have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp raised its position 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 worth $27,000 after purchasing an additional 900 shares during the period. Unique Wealth Strategies LLC bought a new position in C3.ai in the 2nd quarter valued at $28,000. Blue Trust Inc. grew its stake in C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after purchasing an additional 615 shares during the period. ICA Group Wealth Management LLC bought a new position in C3.ai in the 4th quarter valued at $29,000. Finally, Hobbs Group Advisors LLC bought a new position in C3.ai in the 2nd quarter valued at $29,000. 38.96% of the stock is owned by institutional investors and hedge funds.

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.