C3.ai (NYSE:AI) Shares Down 0.5%

Shares of C3.ai, Inc. (NYSE:AI) were down 0.5% during mid-day trading on Monday . The company traded as low as $27.37 and last traded at $27.59. Approximately 518,375 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 6,264,301 shares. The stock had previously closed at $27.73.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AI shares. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research note on Wednesday, May 29th. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Morgan Stanley lifted their price objective on C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Finally, Piper Sandler lowered their price objective on C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, C3.ai has a consensus rating of “Hold” and a consensus price target of $30.33.

C3.ai Trading Down 1.8 %

The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -11.79 and a beta of 1.83. The company has a fifty day moving average price of $28.36 and a two-hundred day moving average price of $27.09.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.18. The business 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%. As a group, equities research analysts expect that C3.ai, Inc. will post -2.35 earnings per share for the current year.

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction that occurred 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 directly owns 7,390 shares in the company, valued at $203,668.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in C3.ai by 5.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,434 shares of the company’s stock worth $650,000 after purchasing an additional 1,060 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in C3.ai by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after purchasing an additional 1,929 shares in the last quarter. Unique Wealth Strategies LLC acquired a new position in C3.ai during the second quarter worth $28,000. Hobbs Group Advisors LLC acquired a new position in C3.ai during the second quarter worth $29,000. Finally, Nisa Investment Advisors LLC lifted its stake in C3.ai by 10.9% during the second quarter. Nisa Investment Advisors LLC now owns 22,335 shares of the company’s stock worth $647,000 after purchasing an additional 2,187 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.