C3.ai (NYSE:AI) Sees Unusually-High Trading Volume on Analyst Upgrade

C3.ai, Inc. (NYSE:AI – Get Rating) shares saw strong trading volume on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $11.00 to $16.00. Deutsche Bank Aktiengesellschaft currently has a sell rating on the stock. 23,685,394 shares changed hands during trading, an increase of 15% from the previous session’s volume of 20,664,432 shares.The stock last traded at $28.90 and had previously closed at $28.48.

Other analysts have also issued research reports about the company. Piper Sandler upped their target price on C3.ai from $13.00 to $23.00 and gave the company a “neutral” rating in a report on Friday. StockNews.com raised C3.ai to a “sell” rating in a research note on Wednesday, February 22nd. JMP Securities increased their price objective on C3.ai from $19.00 to $27.00 and gave the company a “market outperform” rating in a research note on Friday. Wedbush increased their target price on C3.ai from $13.00 to $24.00 in a research report on Friday. Finally, DA Davidson began coverage on C3.ai in a research report on Thursday, February 2nd. They set a “buy” rating and a $30.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, C3.ai currently has an average rating of “Hold” and an average price target of $20.45.

Insider Activity

In other news, Director Richard C. Levin sold 24,000 shares of C3.ai stock in a transaction on Monday, February 6th. The stock was sold at an average price of $30.03, for a total transaction of $720,720.00. Following the transaction, the director now owns 233,664 shares in the company, valued at $7,016,929.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 25,486 shares of company stock worth $737,650. 38.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ancora Advisors LLC grew its stake in C3.ai by 218.8% in the first quarter. Ancora Advisors LLC now owns 1,100 shares of the company’s stock valued at $73,000 after purchasing an additional 755 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of C3.ai in the second quarter worth about $25,000. Canada Pension Plan Investment Board lifted its position in shares of C3.ai by 755.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,472 shares of the company’s stock worth $34,000 after buying an additional 1,300 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of C3.ai in the first quarter worth about $44,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of C3.ai in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 41.97% of the company’s stock.

C3.ai Stock Down 3.9 %

The business has a 50-day simple moving average of $18.06 and a two-hundred day simple moving average of $15.14. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -11.31 and a beta of 1.40.

C3.ai (NYSE:AI – Get Rating) last announced its quarterly earnings results on Wednesday, December 7th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.02). C3.ai had a negative return on equity of 26.93% and a negative net margin of 98.35%. The company had revenue of $62.41 million during the quarter, compared to analyst estimates of $61.03 million. As a group, equities analysts anticipate that C3.ai, Inc. will post -2.73 earnings per share for the current year.

C3.ai Company Profile

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C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.