C3.ai (NYSE:AI) Sets New 52-Week Low – Time to Sell?

Shares of C3.ai, Inc. (NYSE:AI) hit a new 52-week low during trading on Friday . The stock traded as low as $7.70 and last traded at $7.7250, with a volume of 4232088 shares changing hands. The stock had previously closed at $8.31.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wedbush dropped their price target 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. KeyCorp decreased their price objective on shares of C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Canaccord Genuity Group dropped their target price on shares of C3.ai from $16.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. Wolfe Research restated an “underperform” rating and issued a $6.00 target price on shares of C3.ai in a research note on Thursday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $15.87.

C3.ai Price Performance

The firm has a market cap of $1.13 billion, a PE ratio of -2.47 and a beta of 2.05. The business’s fifty day moving average is $10.21 and its 200-day moving average is $13.88.

C3.ai (NYSE:AI) last released its earnings results 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 net margin of 141.35% and a negative return on equity of 55.40%. The company had revenue of $53.26 million during the quarter, compared to analysts’ expectations of $75.91 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The firm’s revenue was down 46.1% compared to the same quarter last year. Analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Transactions at C3.ai

In other news, CFO Hitesh Lath sold 15,248 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $8.98, for a total transaction of $136,927.04. Following the transaction, the chief financial officer owned 238,308 shares of the company’s stock, valued at $2,140,005.84. This represents a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jim H. Snabe purchased 25,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were purchased at an average price of $9.00 per share, with a total value of $225,000.00. Following the purchase, the director directly owned 395,000 shares in the company, valued at $3,555,000. This trade represents a 6.76% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 1,836,610 shares of company stock valued at $21,262,517. Corporate insiders own 26.50% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in shares of C3.ai by 267.9% in the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock worth $3,788,000 after purchasing an additional 132,056 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of C3.ai by 48.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after buying an additional 800 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of C3.ai during the 1st quarter valued at approximately $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in C3.ai by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock worth $5,111,000 after buying an additional 10,675 shares during the period. Finally, Focus Partners Wealth boosted its holdings in C3.ai by 2.6% in the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock worth $1,242,000 after buying an additional 1,503 shares during the period. Institutional investors own 38.96% of the company’s stock.

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.