Moors & Cabot Inc. Lowers Holdings in C3.ai, Inc. (NYSE:AI)

Moors & Cabot Inc. reduced its position in shares of C3.ai, Inc. (NYSE:AI) by 39.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,413 shares of the company’s stock after selling 7,500 shares during the period. Moors & Cabot Inc.’s holdings in C3.ai were worth $277,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in C3.ai by 3.1% during the first quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock worth $288,239,000 after buying an additional 317,768 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of C3.ai during the second quarter worth about $3,465,000. Virtu Financial LLC grew its holdings in shares of C3.ai by 541.6% during the first quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock worth $2,943,000 after purchasing an additional 91,774 shares in the last quarter. Hsbc Holdings PLC raised its stake in C3.ai by 679.8% in the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock valued at $2,500,000 after purchasing an additional 75,923 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in C3.ai during the second quarter valued at approximately $1,453,000. Institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

AI has been the topic of several research reports. Piper Sandler Companies restated a “neutral” rating and set a $24.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. StockNews.com upgraded C3.ai to a “sell” rating in a research report on Tuesday, November 12th. Morgan Stanley cut their price objective on C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. DA Davidson dropped their target price on C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Piper Sandler decreased their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, C3.ai presently has a consensus rating of “Hold” and an average price target of $27.70.

C3.ai Trading Up 6.9 %

Shares of C3.ai stock opened at $37.42 on Friday. The business has a fifty day simple moving average of $26.01 and a two-hundred day simple moving average of $26.30. The firm has a market capitalization of $4.75 billion, a P/E ratio of -16.41 and a beta of 1.80. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $38.30.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS 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 for the quarter, compared to analyst estimates of $86.94 million. During the same quarter in the previous year, the firm posted ($0.56) earnings per share. C3.ai’s quarterly revenue was up 20.5% on a year-over-year basis. Analysts predict that C3.ai, Inc. will post -2.31 earnings per share for the current year.

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.