C3.ai (NYSE:AI) Shares Up 1.8%

C3.ai, Inc. (NYSE:AIGet Free Report)’s share price was up 1.8% during mid-day trading on Monday . The company traded as high as $31.03 and last traded at $30.49. Approximately 1,555,091 shares traded hands during trading, a decline of 76% from the average daily volume of 6,593,696 shares. The stock had previously closed at $29.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AI shares. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Morgan Stanley upped their target price on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. Canaccord Genuity Group lowered their target price on C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of C3.ai in a research report on Wednesday, May 29th. Finally, Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research report on Thursday, May 30th. 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. Based on data from MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and a consensus target price of $31.30.

Get Our Latest Analysis on C3.ai

C3.ai Stock Performance

The firm has a 50 day simple moving average of $27.33 and a 200 day simple moving average of $27.08. The firm has a market cap of $3.74 billion, a P/E ratio of -12.68 and a beta of 1.83.

C3.ai (NYSE:AIGet Free Report) last issued its quarterly earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.18. The firm had revenue of $86.59 million during the quarter, compared to the consensus estimate of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. Sell-side analysts predict that C3.ai, Inc. will post -2.35 EPS for the current fiscal year.

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the firm’s stock in a transaction dated 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 directly owns 7,390 shares of the company’s stock, valued at approximately $203,668.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 34.00% of the stock is currently owned by insiders.

Institutional Trading of C3.ai

Hedge funds have recently made changes to their positions in the stock. ICA Group Wealth Management LLC purchased a new stake in shares of C3.ai in the 4th quarter worth $29,000. Toth Financial Advisory Corp increased its stake 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 stake in shares of C3.ai by 305.1% in the 1st quarter. Comerica Bank now owns 1,203 shares of the company’s stock worth $33,000 after purchasing an additional 906 shares in the last quarter. GPS Wealth Strategies Group LLC increased its stake in shares of 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 purchasing an additional 632 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of C3.ai in the 1st quarter worth $38,000. 38.96% of the stock is owned by institutional investors.

About C3.ai

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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.

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