C3.ai (NYSE:AI) Trading Down 0.1%

C3.ai, Inc. (NYSE:AI) was down 0.1% during mid-day trading on Thursday . The stock traded as low as $25.80 and last traded at $26.43. Approximately 1,153,185 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 6,311,565 shares. The stock had previously closed at $26.46.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AI shares. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a research report on Wednesday, May 29th. 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 report on Thursday, May 30th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Morgan Stanley lifted their target price on shares of C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. Finally, 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 report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.33.

C3.ai Trading Up 3.3 %

The firm’s fifty day moving average is $28.36 and its 200-day moving average is $27.10.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.18. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The company had revenue of $86.59 million during the quarter, compared to the consensus estimate of $84.45 million. On average, equities analysts predict that C3.ai, Inc. will post -2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the completion of the transaction, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at $203,668.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of institutional investors have recently modified their holdings of the stock. Toth Financial Advisory Corp raised its stake in shares of C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 900 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of C3.ai during the second quarter worth approximately $28,000. Blue Trust Inc. raised its stake in shares of C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after buying an additional 615 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in C3.ai during the fourth quarter valued at approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in C3.ai during the second quarter valued at approximately $29,000. 38.96% of the stock is owned by institutional investors.

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.