C3.ai (NYSE:AI) Announces Earnings Results

C3.ai (NYSE:AI) released its quarterly earnings results on Wednesday. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.11), FiscalAI reports. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.The company had revenue of $53.26 million for the quarter, compared to analysts’ expectations of $75.91 million.

C3.ai Trading Up 1.9%

Shares of AI traded up $0.20 during mid-day trading on Wednesday, reaching $10.32. The company had a trading volume of 8,768,487 shares, compared to its average volume of 6,868,405. C3.ai has a fifty-two week low of $9.53 and a fifty-two week high of $30.24. The firm has a fifty day simple moving average of $12.54 and a 200-day simple moving average of $15.18. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -3.64 and a beta of 1.98.

Insider Buying and Selling

In related news, CEO Stephen Bradley Ehikian sold 234,918 shares of C3.ai stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $13.56, for a total value of $3,185,488.08. Following the transaction, the chief executive officer owned 924,074 shares in the company, valued at approximately $12,530,443.44. This trade represents a 20.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hitesh Lath sold 15,042 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $14.38, for a total value of $216,303.96. Following the completion of the transaction, the chief financial officer owned 223,120 shares in the company, valued at approximately $3,208,465.60. This trade represents a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,884,304 shares of company stock valued at $24,970,674. 26.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On C3.ai

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC raised its stake in shares of C3.ai by 683.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after acquiring an additional 1,292 shares during the period. Parallel Advisors LLC increased its holdings in C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares in the last quarter. Summit Securities Group LLC purchased a new position in C3.ai in the fourth quarter valued at about $40,000. NewEdge Advisors LLC lifted its stake in shares of C3.ai by 48.7% during the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its position in shares of C3.ai by 109.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,476 shares of the company’s stock worth $60,000 after buying an additional 2,337 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. DA Davidson reiterated an “underperform” rating and set a $13.00 price objective on shares of C3.ai in a research report on Thursday, December 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, December 4th. Canaccord Genuity Group restated a “hold” rating and set a $16.00 target price on shares of C3.ai in a research report on Thursday, December 4th. Finally, Bank of America set a $10.00 price target on C3.ai in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $21.00.

About C3.ai

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.