C3.ai (NYSE:AI) Shares Up 3.3% - Here's Why

Key Points

• C3.ai's stock price rose by 3.3% to $18.44, with a trading volume decrease of 51% compared to its average session volume.
• Analysts' ratings for C3.ai are mixed, with six sell ratings, eight hold ratings, and two buy ratings, while the average target price is $27.43.
• The company reported a quarterly revenue of $108.72 million, a 25.5% increase year-over-year, although it continues to experience a negative net margin and return on equity.

Shares of C3.ai, Inc. (NYSE:AI - Get Free Report) shot up 3.3% during mid-day trading on Monday . The stock traded as high as $18.47 and last traded at $18.44. 2,953,832 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 6,028,944 shares. The stock had previously closed at $17.85.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AI. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a report on Monday, August 11th. Morgan Stanley lifted their price target on shares of C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research note on Thursday, May 29th. Northland Capmk cut shares of C3.ai from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Northland Securities cut shares of C3.ai from an "outperform" rating to a "market perform" rating and set a $17.00 price target on the stock. in a research note on Tuesday, August 12th. Finally, JMP Securities restated a "market outperform" rating and set a $50.00 target price on shares of C3.ai in a research note on Friday, July 25th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, C3.ai currently has an average rating of "Hold" and an average target price of $27.43.

C3.ai Stock Performance

The business's fifty day moving average price is $24.46 and its two-hundred day moving average price is $24.21. The stock has a market capitalization of $2.47 billion, a P/E ratio of -8.20 and a beta of 1.98.

C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.04. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. The firm had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. During the same period in the previous year, the firm posted ($0.11) EPS. The business's quarterly revenue was up 25.5% on a year-over-year basis. As a group, analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In related news, VP Merel Witteveen sold 5,485 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $23.95, for a total transaction of $131,365.75. Following the transaction, the vice president directly owned 13,740 shares in the company, valued at approximately $329,073. This represents a 28.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John E. Hyten sold 10,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the transaction, the director owned 63,942 shares in the company, valued at $1,518,622.50. The trade was a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,257,074 shares of company stock valued at $53,260,950. Corporate insiders own 33.54% of the company's stock.

Institutional Trading of C3.ai

Several institutional investors and hedge funds have recently modified their holdings of AI. Headlands Technologies LLC purchased a new stake in shares of C3.ai in the 2nd quarter worth approximately $256,000. Tower Research Capital LLC TRC lifted its position in C3.ai by 601.2% during the second quarter. Tower Research Capital LLC TRC now owns 21,794 shares of the company's stock valued at $535,000 after acquiring an additional 18,686 shares during the last quarter. Holocene Advisors LP lifted its position in C3.ai by 84.4% during the second quarter. Holocene Advisors LP now owns 110,877 shares of the company's stock valued at $2,724,000 after acquiring an additional 50,758 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in C3.ai during the 2nd quarter valued at approximately $239,000. Finally, Brevan Howard Capital Management LP acquired a new position in C3.ai during the 2nd quarter valued at approximately $601,000. Institutional investors own 38.96% of the company's stock.

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.

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