C3.ai (NYSE:AI) Sees Unusually-High Trading Volume – What’s Next?

C3.ai, Inc. (NYSE:AI) saw strong trading volume on Monday . 5,602,757 shares were traded during trading, an increase of 1% from the previous session’s volume of 5,549,880 shares.The stock last traded at $41.86 and had previously closed at $40.52.

Wall Street Analyst Weigh In

AI has been the subject of a number of recent analyst reports. Wedbush reduced their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Tuesday. Bank of America reduced their price objective on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Northland Securities raised their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, JMP Securities raised their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, C3.ai currently has an average rating of “Hold” and an average price target of $34.60.

C3.ai Stock Performance

The stock’s 50-day moving average price is $29.47 and its 200-day moving average price is $27.39. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of -18.90 and a beta of 1.99.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after purchasing an additional 178,870 shares during the last quarter. Hodges Capital Management Inc. acquired a new position in shares of C3.ai during the 3rd quarter worth approximately $1,955,000. State Street Corp raised its position in shares of C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after purchasing an additional 38,185 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of C3.ai by 21.3% during the 3rd quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,160 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in C3.ai by 98.4% in the 3rd quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock worth $1,836,000 after acquiring an additional 37,594 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.