C3.ai (NYSE:AI) Stock Price Up 3.6% – What’s Next?

C3.ai, Inc. (NYSE:AI) shares shot up 3.6% during trading on Tuesday . The company traded as high as $8.76 and last traded at $8.9630. 2,251,867 shares changed hands during trading, a decline of 71% from the average session volume of 7,649,883 shares. The stock had previously closed at $8.65.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AI shares. UBS Group reissued a “reduce” rating on shares of C3.ai in a research note on Thursday, February 26th. Wedbush decreased their price objective on shares of C3.ai from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. DA Davidson lowered their target price on shares of C3.ai from $13.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, December 4th. Finally, Canaccord Genuity Group decreased their price target on shares of C3.ai from $16.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $15.87.

C3.ai Price Performance

The company has a 50 day simple moving average of $11.92 and a 200-day simple moving average of $14.84. The firm has a market cap of $1.31 billion, a PE ratio of -2.95 and a beta of 2.05.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). C3.ai had a negative return on equity of 53.96% and a negative net margin of 141.35%.The business had revenue of $53.26 million during the quarter, compared to the consensus estimate of $75.91 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The company’s revenue was down 46.1% compared to the same quarter last year. On average, sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In other news, 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 transaction of $216,303.96. Following the transaction, the chief financial officer directly owned 223,120 shares of the company’s stock, valued at approximately $3,208,465.60. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen Bradley Ehikian sold 234,918 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $13.56, for a total value of $3,185,488.08. Following the completion of the sale, the chief executive officer directly owned 924,074 shares of the company’s stock, valued at approximately $12,530,443.44. This trade represents a 20.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,867,304 shares of company stock worth $24,729,104 over the last three months. Company insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Alpine Global Management LLC bought a new stake in C3.ai during the 4th quarter valued at $206,000. Virtu Financial LLC purchased a new position in shares of C3.ai in the fourth quarter valued at about $871,000. Invesco Ltd. raised its stake in shares of C3.ai by 29.5% during the fourth quarter. Invesco Ltd. now owns 452,653 shares of the company’s stock valued at $6,102,000 after acquiring an additional 103,058 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of C3.ai by 12.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 45,000 shares of the company’s stock worth $607,000 after purchasing an additional 5,000 shares during the period. Finally, VARCOV Co. purchased a new stake in shares of C3.ai during the fourth quarter worth about $2,409,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.