C3.ai Sees Unusually High Options Volume (NYSE:AI)

C3.ai, Inc. (NYSE:AI) was the target of unusually large options trading activity on Friday. Stock investors acquired 77,063 call options on the company. This represents an increase of 105% compared to the average daily volume of 37,663 call options.

Insider Buying and Selling

In other C3.ai news, CEO Thomas M. Siebel sold 472,005 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.11, for a total transaction of $5,243,975.55. Following the completion of the transaction, the chief executive officer owned 722,362 shares of the company’s stock, valued at $8,025,441.82. The trade was a 39.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen Bradley Ehikian sold 50,542 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.45, for a total value of $477,621.90. Following the transaction, the chief executive officer directly owned 651,130 shares of the company’s stock, valued at $6,153,178.50. This represents a 7.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,155,144 shares of company stock worth $11,420,651 in the last quarter. 26.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On C3.ai

Several institutional investors and hedge funds have recently made changes to their positions in AI. Bank of America Corp DE raised its stake in C3.ai by 55.1% during the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock worth $27,636,000 after buying an additional 1,166,302 shares during the period. Dimensional Fund Advisors LP grew its stake in C3.ai by 77.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after acquiring an additional 785,508 shares during the period. Two Sigma Investments LP bought a new stake in shares of C3.ai in the third quarter worth about $13,379,000. Voloridge Investment Management LLC bought a new stake in shares of C3.ai in the fourth quarter worth about $9,183,000. Finally, Federated Hermes Inc. raised its position in shares of C3.ai by 93,578.8% during the fourth quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock worth $9,105,000 after purchasing an additional 674,703 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Trading Down 1.0%

Shares of AI stock traded down $0.09 on Friday, reaching $8.82. The company had a trading volume of 5,970,990 shares, compared to its average volume of 6,359,812. The stock has a market cap of $1.37 billion, a PE ratio of -2.64 and a beta of 2.06. The company has a 50-day moving average of $9.69 and a 200-day moving average of $10.14. C3.ai has a 12 month low of $7.68 and a 12 month high of $30.11.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.05. The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. C3.ai’s quarterly revenue was down 52.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) EPS. Sell-side analysts anticipate that C3.ai will post -2.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group upped their price target on C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Morgan Stanley lifted their price target on shares of C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday, June 4th. DA Davidson reiterated an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. Wedbush reiterated an “outperform” rating and set a $15.00 target price on shares of C3.ai in a research report on Thursday, June 4th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, C3.ai currently has an average rating of “Reduce” and a consensus price target of $10.67.

C3.ai Company Profile

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.