C3.ai Target of Unusually Large Options Trading (NYSE:AI)

C3.ai, Inc. (NYSE:AI) was the target of unusually large options trading on Wednesday. Stock traders acquired 82,331 call options on the stock. This represents an increase of 71% compared to the average daily volume of 48,145 call options.

Institutional Trading of C3.ai

Several institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its position in shares of C3.ai by 2.1% during the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after purchasing an additional 432 shares in the last quarter. Principal Financial Group Inc. raised its holdings in C3.ai by 4.3% during the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after purchasing an additional 462 shares in the last quarter. Forum Financial Management LP raised its stake in C3.ai by 4.4% during the 2nd quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after acquiring an additional 539 shares in the last quarter. Rhumbline Advisers increased its position in shares of C3.ai by 0.5% during the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after purchasing an additional 572 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in shares of C3.ai by 6.2% during the first quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock worth $277,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analysts Set New Price Targets

AI has been the subject of a number of analyst reports. DA Davidson lowered 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. Canaccord Genuity Group reduced their target price on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Wedbush lowered their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. Finally, Bank of America reduced their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.70.

C3.ai Stock Up 5.5 %

Shares of C3.ai stock traded up $1.34 on Wednesday, reaching $25.79. The company’s stock had a trading volume of 3,236,623 shares, compared to its average volume of 5,644,698. The company has a market capitalization of $3.22 billion, a P/E ratio of -10.99 and a beta of 1.81. The stock has a 50-day moving average price of $23.77 and a 200-day moving average price of $25.54. C3.ai has a 52-week low of $18.85 and a 52-week high of $38.30.

C3.ai (NYSE:AI) last issued its quarterly earnings results 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 return on equity of 31.28% and a negative net margin of 85.47%. The firm had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. During the same period in the previous year, the business earned ($0.56) earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. Sell-side analysts forecast that C3.ai will post -2.32 earnings per share for the current fiscal year.

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.