Strs Ohio purchased a new stake in shares of C3.ai, Inc. (NYSE:AI – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 800 shares of the company’s stock, valued at approximately $29,000.
Other hedge funds have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. boosted its stake in shares of C3.ai by 5.0% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 8,305 shares of the company’s stock worth $303,000 after buying an additional 395 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of C3.ai by 2.8% in the 1st quarter. Arizona State Retirement System now owns 22,814 shares of the company’s stock worth $766,000 after buying an additional 618 shares during the last quarter. CWM LLC boosted its stake in shares of C3.ai by 42.0% in the 1st quarter. CWM LLC now owns 2,196 shares of the company’s stock worth $74,000 after buying an additional 649 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of C3.ai by 26.3% in the 1st quarter. NewEdge Advisors LLC now owns 3,341 shares of the company’s stock worth $112,000 after buying an additional 696 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its stake in shares of C3.ai by 8.8% in the 2nd quarter. Kovack Advisors Inc. now owns 8,755 shares of the company’s stock worth $319,000 after buying an additional 705 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on AI. Piper Sandler cut their target price on C3.ai from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, September 8th. Wedbush lowered their price target on shares of C3.ai from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, September 7th. Northland Securities assumed coverage on shares of C3.ai in a report on Tuesday, July 25th. They issued a “market perform” rating and a $40.00 price target on the stock. JMP Securities lifted their price target on shares of C3.ai from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Finally, Piper Sandler Companies lowered their price target on shares of C3.ai from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, September 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.60.
C3.ai Price Performance
Shares of AI stock opened at $28.59 on Friday. The company’s fifty day simple moving average is $26.55 and its two-hundred day simple moving average is $30.53. C3.ai, Inc. has a 1 year low of $10.16 and a 1 year high of $48.87. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -12.22 and a beta of 1.54.
C3.ai (NYSE:AI – Get Free Report) last issued its earnings results on Wednesday, September 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. The business had revenue of $72.36 million for the quarter, compared to analysts’ expectations of $71.56 million. C3.ai had a negative net margin of 99.42% and a negative return on equity of 27.78%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.67) EPS. Equities research analysts anticipate that C3.ai, Inc. will post -2.24 EPS for the current year.
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.
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