C3.ai Target of Unusually High Options Trading (NYSE:AI)

C3.ai, Inc. (NYSE:AI) saw unusually large options trading activity on Thursday. Stock investors purchased 70,736 call options on the stock. This is an increase of 41% compared to the average volume of 50,330 call options.

C3.ai Trading Up 8.1 %

Shares of AI opened at $40.52 on Friday. The stock has a market cap of $5.15 billion, a P/E ratio of -17.77 and a beta of 2.00. The company has a 50-day moving average of $28.74 and a two-hundred day moving average of $27.12. C3.ai has a 12-month low of $18.85 and a 12-month high of $40.65.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.56) earnings per share. As a group, analysts forecast that C3.ai will post -2.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AI shares. Morgan Stanley lowered their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler lowered their target price on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Wedbush reduced their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $29.20.

Hedge Funds Weigh In On C3.ai

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JTC Employer Solutions Trustee Ltd acquired a new stake in C3.ai during the 3rd quarter valued at $25,000. Blue Trust Inc. boosted its stake in C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in C3.ai during the 2nd quarter valued at $28,000. Hobbs Group Advisors LLC bought a new position in C3.ai during the 2nd quarter valued at $29,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after acquiring an additional 795 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.