Traders Purchase Large Volume of C3.ai Call Options (NYSE:AI)

C3.ai, Inc. (NYSE:AI) saw unusually large options trading activity on Thursday. Traders purchased 92,737 call options on the stock. This represents an increase of approximately 77% compared to the average volume of 52,435 call options.

Insider Activity at C3.ai

In related news, Director Jim H. Snabe bought 25,000 shares of C3.ai stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $9.00 per share, for a total transaction of $225,000.00. Following the completion of the purchase, the director owned 395,000 shares in the company, valued at approximately $3,555,000. This represents a 6.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Bradley Ehikian sold 52,194 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $8.22, for a total value of $429,034.68. Following the transaction, the chief executive officer owned 721,485 shares in the company, valued at $5,930,606.70. This represents a 6.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,623,178 shares of company stock worth $15,560,098 over the last ninety days. Corporate insiders own 26.50% of the company’s stock.

Institutional Investors Weigh In On C3.ai

Several hedge funds and other institutional investors have recently made changes to their positions in AI. NewEdge Advisors LLC raised its position in shares of C3.ai by 48.7% during the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after acquiring an additional 800 shares during the last quarter. Parallel Advisors LLC increased its position in C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after purchasing an additional 801 shares during the period. BOKF NA raised its holdings in C3.ai by 20.7% during the 3rd quarter. BOKF NA now owns 4,709 shares of the company’s stock worth $82,000 after purchasing an additional 809 shares during the last quarter. Farther Finance Advisors LLC lifted its position in C3.ai by 66.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. Finally, Clearstead Advisors LLC boosted its stake in shares of C3.ai by 58.0% in the 3rd quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock valued at $41,000 after purchasing an additional 863 shares during the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Performance

C3.ai stock traded down $0.73 on Thursday, reaching $8.66. The company’s stock had a trading volume of 4,289,152 shares, compared to its average volume of 6,446,870. C3.ai has a twelve month low of $7.68 and a twelve month high of $30.24. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -2.75 and a beta of 2.08. The business’s fifty day moving average price is $9.09 and its 200 day moving average price is $12.78.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The company had revenue of $53.26 million for the quarter, compared to analyst estimates of $75.91 million. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The firm’s quarterly revenue was down 46.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) EPS. As a group, equities analysts forecast that C3.ai will post -3.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AI. Canaccord Genuity Group dropped their price objective on shares of C3.ai from $16.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research note on Monday. Bank of America set a $10.00 price objective on C3.ai in a research note on Friday, January 30th. KeyCorp lowered their price target on C3.ai from $10.00 to $6.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Finally, Citizens Jmp cut C3.ai from an “outperform” rating to a “market perform” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $15.87.

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.