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

C3.ai, Inc. (NYSE:AI) was the target of unusually large options trading activity on Thursday. Traders acquired 70,736 call options on the stock. This is an increase of approximately 41% compared to the typical daily volume of 50,330 call options.

C3.ai Stock Performance

AI opened at $37.49 on Friday. C3.ai has a twelve month low of $18.85 and a twelve month high of $39.88. The firm has a market cap of $4.76 billion, a PE ratio of -16.44 and a beta of 2.00. The firm’s fifty day moving average is $28.41 and its two-hundred day moving average is $27.02.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping 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 analyst estimates of $86.94 million. During the same period in the previous year, the company posted ($0.56) earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Equities analysts forecast that C3.ai will post -2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On C3.ai

Several institutional investors have recently modified their holdings of the business. Hobbs Group Advisors LLC acquired a new stake in shares of C3.ai during the second quarter worth $29,000. Unique Wealth Strategies LLC bought a new position in C3.ai during the 2nd quarter worth about $28,000. Blue Trust Inc. raised its stake in shares of 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 during the period. JTC Employer Solutions Trustee Ltd bought a new stake in shares of C3.ai in the third quarter valued at about $25,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 buying an additional 795 shares during the period. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AI. Canaccord Genuity Group dropped their price target on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Bank of America cut their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Piper Sandler lowered their price objective on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Oppenheimer reiterated an “outperform” rating and set a $40.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Finally, Wedbush dropped 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. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.20.

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.