C3.ai (NYSE:AI) Stock Price Down 0.4%

Shares of C3.ai, Inc. (NYSE:AI) fell 0.4% on Tuesday . The company traded as low as $27.40 and last traded at $27.53. 1,042,523 shares changed hands during trading, a decline of 87% from the average session volume of 8,079,390 shares. The stock had previously closed at $27.63.

Analyst Ratings Changes

A number of research firms have weighed in on AI. DA Davidson cut their price objective on shares of C3.ai from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, December 7th. Piper Sandler raised their target price on shares of C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Wedbush lowered their target price on shares of C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Bank of America raised their target price on shares of C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group raised their target price on shares of C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.91.

C3.ai Stock Performance

The firm’s 50-day simple moving average is $28.30 and its 200 day simple moving average is $27.65.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.13. The business had revenue of $78.40 million during the quarter, compared to the consensus estimate of $75.92 million. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. As a group, sell-side analysts predict that C3.ai, Inc. will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new position in C3.ai in the 4th quarter valued at about $1,012,000. ICA Group Wealth Management LLC acquired a new position in shares of C3.ai during the 4th quarter valued at about $29,000. American International Group Inc. increased its stake in shares of C3.ai by 34.0% during the 4th quarter. American International Group Inc. now owns 40,467 shares of the company’s stock valued at $1,162,000 after acquiring an additional 10,261 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of C3.ai by 7.2% during the 4th quarter. EP Wealth Advisors LLC now owns 9,639 shares of the company’s stock worth $277,000 after purchasing an additional 644 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of C3.ai during the 4th quarter worth about $487,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

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.