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

C3.ai, Inc. (NYSE:AI) saw some unusual options trading on Tuesday. Stock traders bought 119,549 call options on the stock. This is an increase of 167% compared to the typical daily volume of 44,811 call options.

Wall Street Analysts Forecast Growth

AI has been the topic of several research reports. Canaccord Genuity Group dropped their target price on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Morgan Stanley cut their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Oppenheimer restated an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Bank of America cut their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Finally, Piper Sandler cut their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.70.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently modified their holdings of the business. Hobbs Group Advisors LLC purchased a new position in C3.ai in the second quarter valued at about $29,000. Unique Wealth Strategies LLC acquired a new stake in shares of C3.ai in the 2nd quarter worth approximately $28,000. Blue Trust Inc. increased its stake in C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after purchasing an additional 615 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai in the 3rd quarter valued at approximately $25,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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 worth $30,000 after purchasing an additional 795 shares during the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Price Performance

Shares of NYSE:AI traded up $4.54 during mid-day trading on Tuesday, reaching $31.08. 11,898,207 shares of the company were exchanged, compared to its average volume of 5,354,212. The firm’s 50-day simple moving average is $25.03 and its 200 day simple moving average is $26.04. C3.ai has a 1 year low of $18.85 and a 1 year high of $38.30. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -13.06 and a beta of 1.80.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. The business had revenue of $87.21 million during the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.56) earnings per share. On average, research analysts forecast that C3.ai will post -2.31 earnings per share for the current fiscal year.

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.