C3.ai, Inc. (NYSE:AI) Sees Significant Decrease in Short Interest

C3.ai, Inc. (NYSE:AI) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 25,500,000 shares, a decrease of 10.0% from the August 31st total of 28,340,000 shares. Based on an average daily volume of 3,830,000 shares, the short-interest ratio is presently 6.7 days.

Institutional Trading of C3.ai

Several large investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in shares of C3.ai during the fourth quarter worth $29,000. 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 buying an additional 900 shares during the period. Hobbs Group Advisors LLC bought a new stake in C3.ai during the 2nd quarter worth approximately $29,000. Unique Wealth Strategies LLC acquired a new position in C3.ai in the 2nd quarter valued at approximately $28,000. Finally, Blue Trust Inc. raised 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 last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Performance

Shares of AI stock traded down $0.15 during trading on Friday, hitting $24.22. The company had a trading volume of 2,192,475 shares, compared to its average volume of 5,773,948. The firm has a market capitalization of $3.02 billion, a P/E ratio of -10.35 and a beta of 1.81. C3.ai has a one year low of $18.85 and a one year high of $38.30. The stock’s 50-day moving average price is $24.29 and its 200 day moving average price is $25.82.

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

Analysts Set New Price Targets

AI has been the subject of a number of analyst reports. Canaccord Genuity Group decreased their target price on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. DA Davidson dropped their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Bank of America dropped their price objective on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.70.

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.