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

C3.ai, Inc. (NYSE:AI) traded down 1.7% on Wednesday . The stock traded as low as $28.69 and last traded at $28.71. 3,015,642 shares changed hands during trading, a decline of 62% from the average session volume of 7,988,057 shares. The stock had previously closed at $29.21.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Thursday, May 30th. Bank of America lifted their target price on C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Canaccord Genuity Group cut their price target on C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Finally, Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.30.

C3.ai Stock Performance

The firm has a market cap of $3.35 billion, a PE ratio of -11.73 and a beta of 1.85. The company has a 50 day simple moving average of $25.57 and a two-hundred day simple moving average of $27.19.

Hedge Funds Weigh In On C3.ai

Several institutional investors and hedge funds have recently modified their holdings of AI. EverSource Wealth Advisors LLC raised its holdings in shares of C3.ai by 4,860.6% during the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock valued at $865,000 after acquiring an additional 31,302 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in C3.ai during the first quarter worth $38,000. Cetera Advisors LLC acquired a new stake in shares of C3.ai in the first quarter valued at $465,000. Virtu Financial LLC raised its stake in C3.ai by 541.6% in the first quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock valued at $2,943,000 after buying an additional 91,774 shares in the last quarter. Finally, Montchanin Asset Management LLC acquired a new stake in C3.ai in the first quarter valued at $297,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

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.