C3.ai, Inc. (NYSE:AI – Get Free Report) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 30,860,000 shares, a decline of 10.5% from the May 15th total of 34,480,000 shares. Based on an average trading volume of 5,560,000 shares, the days-to-cover ratio is currently 5.6 days.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Canaccord Genuity Group decreased their target price on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Bank of America lifted their target price on shares of C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Piper Sandler decreased their target price on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, Morgan Stanley lifted their target price on shares of C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.30.
Check Out Our Latest Research Report on C3.ai
Hedge Funds Weigh In On C3.ai
C3.ai Stock Down 1.7 %
AI traded down $0.50 during midday trading on Tuesday, hitting $28.71. 3,003,204 shares of the company traded hands, compared to its average volume of 6,929,232. The firm has a market capitalization of $3.50 billion, a PE ratio of -12.27 and a beta of 1.84. The company’s 50-day moving average is $25.40 and its 200 day moving average is $27.18. C3.ai has a 52 week low of $20.23 and a 52 week high of $46.88.
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.
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