C3.ai (NYSE:AI – Get Rating) had its price target cut by Morgan Stanley from $20.00 to $15.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 15.92% from the stock’s previous close.
Several other analysts also recently issued reports on the company. JMP Securities cut their price target on C3.ai from $96.00 to $59.00 and set a “market outperform” rating on the stock in a report on Thursday, March 3rd. Piper Sandler cut their price target on C3.ai from $40.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, March 3rd. Zacks Investment Research downgraded C3.ai from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. JPMorgan Chase & Co. raised C3.ai from an “underweight” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $27.00 in a report on Wednesday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft downgraded C3.ai from a “hold” rating to a “sell” rating and cut their price target for the stock from $36.00 to $18.00 in a report on Friday, March 4th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and an average price target of $27.00.
Shares of AI traded up $0.69 during mid-day trading on Thursday, hitting $17.84. The stock had a trading volume of 21,802 shares, compared to its average volume of 2,666,084. The company has a market cap of $1.90 billion, a PE ratio of -11.51 and a beta of 0.69. The company’s fifty day simple moving average is $19.47 and its two-hundred day simple moving average is $27.12. C3.ai has a fifty-two week low of $13.37 and a fifty-two week high of $76.85.
In other news, CFO Juho Parkkinen sold 2,548 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $17.89, for a total value of $45,583.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 10,816 shares of company stock worth $218,278 in the last ninety days. 52.65% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in shares of C3.ai by 3,728.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 21,554 shares of the company’s stock worth $673,000 after acquiring an additional 20,991 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of C3.ai in the 4th quarter worth $1,160,000. Balyasny Asset Management LLC acquired a new position in shares of C3.ai in the 3rd quarter worth $607,000. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in shares of C3.ai in the 3rd quarter worth $257,000. Finally, Laurion Capital Management LP grew its holdings in shares of C3.ai by 236.4% in the 3rd quarter. Laurion Capital Management LP now owns 15,400 shares of the company’s stock worth $714,000 after acquiring an additional 10,822 shares during the last quarter. 45.41% of the stock is currently owned by institutional investors.
About C3.ai (Get Rating)
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.
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