C3.ai’s (AI) “Market Perform” Rating Reiterated at Citizens Jmp

C3.ai (NYSE:AI)‘s stock had its “market perform” rating restated by investment analysts at Citizens Jmp in a research note issued to investors on Tuesday, Benzinga reports.

A number of other research analysts have also issued reports on AI. DA Davidson reissued an “underperform” rating and issued a $7.00 target price on shares of C3.ai in a report on Tuesday, September 1st. Citigroup reaffirmed a “market perform” rating on shares of C3.ai in a report on Thursday, September 3rd. Weiss Ratings upgraded shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Wedbush reissued an “outperform” rating and issued a $15.00 price objective on shares of C3.ai in a research note on Thursday, June 4th. Finally, Morgan Stanley upped their price objective on shares of C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, C3.ai has a consensus rating of “Reduce” and a consensus price target of $8.70.

C3.ai Price Performance

NYSE:AI opened at $10.38 on Tuesday. The firm has a market capitalization of $1.67 billion, a PE ratio of -3.37 and a beta of 2.10. The business’s fifty day moving average price is $10.07 and its 200 day moving average price is $9.55. C3.ai has a 12 month low of $7.68 and a 12 month high of $20.22.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. The company had revenue of $52.38 million for the quarter, compared to analysts’ expectations of $52.06 million. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%.C3.ai’s quarterly revenue was down 25.4% on a year-over-year basis. During the same period last year, the firm earned ($0.37) earnings per share. As a group, equities analysts anticipate that C3.ai will post -2.2 EPS for the current year.

Insider Activity

In related news, CEO Thomas Siebel sold 162,247 shares of C3.ai stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $10.54, for a total value of $1,710,083.38. Following the sale, the chief executive officer directly owned 722,362 shares in the company, valued at $7,613,695.48. The trade was a 18.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen Ehikian sold 50,542 shares of the company’s stock in a transaction on 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 in the company, 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 sold 1,168,351 shares of company stock valued at $12,201,852 in the last three months. 19.80% of the stock is currently owned by company insiders.

Institutional Trading of C3.ai

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC acquired a new position in C3.ai during the first quarter worth about $26,000. AdvisorNet Financial Inc purchased a new position in C3.ai in the first quarter valued at about $34,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of C3.ai during the 4th quarter valued at approximately $71,000. CoreCap Advisors LLC lifted its position in shares of C3.ai by 34.0% during the 2nd quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock valued at $56,000 after acquiring an additional 1,560 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of C3.ai by 1,510.1% during the 2nd quarter. Versant Capital Management Inc now owns 6,859 shares of the company’s stock worth $62,000 after acquiring an additional 6,433 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.

The company’s offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.