C3.ai (NYSE:AI) Sets New 52-Week Low – What’s Next?

C3.ai, Inc. (NYSE:AI)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.23 and last traded at $12.3080, with a volume of 3898873 shares traded. The stock had previously closed at $13.13.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AI. Canaccord Genuity Group reissued a “hold” rating and set a $16.00 price objective on shares of C3.ai in a report on Thursday, December 4th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. DA Davidson reiterated an “underperform” rating and issued a $13.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $21.92.

C3.ai Stock Performance

The stock has a market capitalization of $1.72 billion, a P/E ratio of -4.32 and a beta of 1.97. The firm has a 50-day moving average price of $14.00 and a 200 day moving average price of $17.21.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.08. The business had revenue of $75.15 million during the quarter, compared to analyst estimates of $74.86 million. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.C3.ai’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. On average, equities analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at C3.ai

In related news, CFO Hitesh Lath sold 15,042 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $14.38, for a total transaction of $216,303.96. Following the completion of the sale, the chief financial officer directly owned 223,120 shares in the company, valued at $3,208,465.60. This represents a 6.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen Bradley Ehikian sold 234,918 shares of C3.ai stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $13.56, for a total value of $3,185,488.08. Following the completion of the transaction, the chief executive officer directly owned 924,074 shares in the company, valued at $12,530,443.44. This trade represents a 20.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,916,218 shares of company stock worth $27,468,077. Company insiders own 26.50% of the company’s stock.

Institutional Investors Weigh In On C3.ai

Institutional investors have recently added to or reduced their stakes in the company. Silicon Valley Capital Partners bought a new position in shares of C3.ai during the second quarter valued at about $25,000. Larson Financial Group LLC raised its position in C3.ai by 683.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,292 shares during the last quarter. Parallel Advisors LLC grew its position in shares of C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares during the last quarter. Financial Consulate Inc. purchased a new position in shares of C3.ai during the third quarter valued at approximately $36,000. Finally, Farther Finance Advisors LLC increased its stake in shares of C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About C3.ai

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.