C3.ai Target of Unusually Large Options Trading (NYSE:AI)

C3.ai, Inc. (NYSE:AI) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 93,827 call options on the company. This represents an increase of approximately 74% compared to the typical daily volume of 54,011 call options.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Canaccord Genuity Group cut their target price on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Piper Sandler reduced their target price on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Morgan Stanley lowered their target price on C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and a consensus price target of $27.70.

C3.ai Price Performance

Shares of AI stock opened at $22.86 on Friday. The firm has a 50-day moving average of $25.62 and a 200-day moving average of $26.51. C3.ai has a one year low of $18.85 and a one year high of $38.30. The company has a market cap of $2.85 billion, a P/E ratio of -9.77 and a beta of 1.81.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.08. The firm had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.56) EPS. As a group, research analysts expect that C3.ai will post -2.35 earnings per share for the current fiscal year.

Insider Transactions at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the completion of the transaction, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 34.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Toth Financial Advisory Corp increased its stake in shares of C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares during the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of C3.ai during the second quarter worth $28,000. Blue Trust Inc. boosted its holdings in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of C3.ai during the 4th quarter valued at $29,000. Finally, Hobbs Group Advisors LLC purchased a new stake in C3.ai during the 2nd quarter worth about $29,000. Institutional investors own 38.96% of the company’s stock.

About C3.ai

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.