C3.ai (NYSE:AI) Stock Price Up 2.2%

C3.ai, Inc. (NYSE:AI) shares were up 2.2% during trading on Wednesday . The company traded as high as $28.87 and last traded at $28.71. Approximately 968,397 shares traded hands during trading, a decline of 85% from the average daily volume of 6,641,467 shares. The stock had previously closed at $28.09.

Analysts Set New Price Targets

A number of analysts have commented on AI shares. Morgan Stanley lifted their price target on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Wedbush reissued an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a report on Wednesday, May 29th. Northland Capmk raised C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Canaccord Genuity Group decreased their price objective on C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.30.

C3.ai Stock Up 1.7 %

The company has a 50 day moving average of $26.91 and a two-hundred day moving average of $27.13.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.18. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. The company had revenue of $86.59 million during the quarter, compared to analyst estimates of $84.45 million. As a group, research analysts forecast that C3.ai, Inc. will post -2.35 earnings per share for the current 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 that occurred on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total transaction of $82,817.80. Following the completion of the sale, the chief financial officer now directly owns 7,390 shares in the company, valued at approximately $203,668.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 34.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On C3.ai

A number of large investors have recently made changes to their positions in AI. Orion Capital Management LLC purchased a new stake in shares of C3.ai in the third quarter valued at approximately $26,000. Toth Financial Advisory Corp grew its position in shares of C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 900 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in C3.ai in the fourth quarter valued at approximately $29,000. Comerica Bank lifted its holdings in C3.ai by 305.1% in the first quarter. Comerica Bank now owns 1,203 shares of the company’s stock valued at $33,000 after acquiring an additional 906 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in C3.ai in the first quarter valued at approximately $38,000. 38.96% of the stock is currently owned by hedge funds and other 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.