C3.ai (NYSE:AI) Trading 3.1% Higher

Shares of C3.ai, Inc. (NYSE:AI) shot up 3.1% on Thursday . The stock traded as high as $31.12 and last traded at $30.89. 1,819,781 shares changed hands during trading, a decline of 72% from the average session volume of 6,535,084 shares. The stock had previously closed at $29.96.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AI. Northland Securities upgraded shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research note on Thursday, May 30th. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Morgan Stanley raised their target price on shares of C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Finally, Canaccord Genuity Group lowered their target price on C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.30.

C3.ai Price Performance

The firm has a market capitalization of $3.72 billion, a P/E ratio of -13.20 and a beta of 1.83. The firm’s fifty day moving average price is $27.47 and its 200-day moving average price is $27.10.

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

Insider Buying and Selling at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the transaction, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 34.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently modified their holdings of the stock. EP Wealth Advisors LLC lifted its holdings 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 buying an additional 600 shares during the last quarter. 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 valued at $39,000 after purchasing an additional 632 shares during the last quarter. EWG Elevate Inc. boosted its holdings in C3.ai by 7.5% in the 1st quarter. EWG Elevate Inc. now owns 9,538 shares of the company’s stock valued at $258,000 after purchasing an additional 662 shares during the period. Daiwa Securities Group Inc. grew its position in C3.ai by 2.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 28,478 shares of the company’s stock worth $818,000 after purchasing an additional 811 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in shares of C3.ai by 900.0% during 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 during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

About C3.ai

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.