C3.ai (NYSE:AI) Trading 1.8% Higher

C3.ai, Inc. (NYSE:AI)’s share price traded up 1.8% on Friday . The company traded as high as $29.33 and last traded at $29.05. 1,128,646 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 6,724,929 shares. The stock had previously closed at $28.55.

Analyst Ratings Changes

Several research analysts have recently issued reports on AI shares. Canaccord Genuity Group dropped their price objective on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Northland Capmk raised C3.ai from a “hold” rating to a “strong-buy” rating 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 price objective on the stock in a report on Thursday, May 30th. Piper Sandler cut their target price on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, May 30th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.30.

C3.ai Stock Performance

The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -12.38 and a beta of 1.85. The company’s 50-day moving average is $26.41 and its 200-day moving average is $27.16.

C3.ai (NYSE:AI) last released its quarterly 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 net margin of 93.36% and a negative return on equity of 30.95%. The business had revenue of $86.59 million for the quarter, compared to analysts’ expectations of $84.45 million. On average, analysts predict that C3.ai, Inc. will post -2.35 EPS for the current year.

Insider Activity

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the business’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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 34.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AI. Orion Capital Management LLC bought a new position in C3.ai during the third quarter worth about $26,000. ICA Group Wealth Management LLC acquired a new position in C3.ai during the fourth quarter valued at approximately $29,000. Toth Financial Advisory Corp increased its stake in C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 900 shares in the last quarter. Comerica Bank raised its holdings in C3.ai by 305.1% in the first quarter. Comerica Bank now owns 1,203 shares of the company’s stock worth $33,000 after purchasing an additional 906 shares during the period. Finally, GPS Wealth Strategies Group LLC raised its stake in C3.ai by 87.9% during 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 period. 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.