Short Interest in C3.ai, Inc. (NYSE:AI) Expands By 8.8%

C3.ai, Inc. (NYSE:AI) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 24,770,000 shares, a growth of 8.8% from the November 15th total of 22,770,000 shares. Based on an average daily volume of 5,500,000 shares, the days-to-cover ratio is currently 4.5 days.

C3.ai Price Performance

Shares of AI stock traded down $0.19 during midday trading on Tuesday, reaching $42.75. 5,181,019 shares of the company traded hands, compared to its average volume of 5,967,690. The firm’s 50 day simple moving average is $30.77 and its two-hundred day simple moving average is $27.80. C3.ai has a 1-year low of $18.85 and a 1-year high of $45.08. The firm has a market cap of $5.43 billion, a PE ratio of -19.61 and a beta of 2.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America decreased their target price on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Northland Securities boosted their price objective on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group boosted their price objective on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Wednesday, December 11th. Finally, Wedbush reduced their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, C3.ai has a consensus rating of “Hold” and a consensus price target of $35.55.

Insider Buying and Selling

In other news, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $5,250,000.00. Following the completion of the transaction, the director now owns 546,495 shares in the company, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John E. Hyten sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $38.37, for a total value of $191,850.00. Following the sale, the director now owns 263,843 shares of the company’s stock, valued at approximately $10,123,655.91. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,339 shares of company stock valued at $5,918,088. 33.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd acquired a new position in shares of C3.ai during the 3rd quarter worth approximately $25,000. Blue Trust Inc. raised its position in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after purchasing an additional 615 shares during the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of C3.ai during the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC acquired a new position in shares of C3.ai during the 2nd quarter worth approximately $29,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after purchasing an additional 795 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.