Traders Buy Large Volume of C3.ai Call Options (NYSE:AI)

C3.ai, Inc. (NYSE:AI) was the target of some unusual options trading on Wednesday. Stock traders purchased 82,331 call options on the company. This is an increase of approximately 71% compared to the average volume of 48,145 call options.

C3.ai Trading Up 5.5 %

NYSE:AI traded up $1.34 during trading hours on Wednesday, hitting $25.79. The stock had a trading volume of 3,236,623 shares, compared to its average volume of 5,644,698. The business has a 50 day simple moving average of $23.77 and a two-hundred day simple moving average of $25.54. C3.ai has a 1-year low of $18.85 and a 1-year high of $38.30. The company has a market cap of $3.22 billion, a PE ratio of -10.99 and a beta of 1.81.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The firm had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. During the same quarter in the prior year, the firm posted ($0.56) earnings per share. C3.ai’s revenue for the quarter was up 20.5% compared to the same quarter last year. Research analysts expect that C3.ai will post -2.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on AI. DA Davidson dropped their price objective on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Bank of America lowered their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Canaccord Genuity Group lowered their target price on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Oppenheimer reissued an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp boosted its position in 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 acquiring an additional 900 shares during the period. Unique Wealth Strategies LLC bought a new position in shares of C3.ai in the second quarter valued at approximately $28,000. Blue Trust Inc. increased its stake in shares of C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of C3.ai in the second quarter valued at $29,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in C3.ai by 311.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after buying an additional 795 shares in the last quarter. Institutional investors and hedge funds 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.