Investors Purchase Large Volume of C3.ai Call Options (NYSE:AI)

C3.ai, Inc. (NYSE:AI) saw some unusual options trading on Tuesday. Stock traders acquired 119,549 call options on the stock. This represents an increase of 167% compared to the average volume of 44,811 call options.

Institutional Trading of C3.ai

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in C3.ai by 2.1% during the 2nd quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after buying an additional 432 shares in the last quarter. Victory Capital Management Inc. lifted its position in C3.ai by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock worth $341,000 after acquiring an additional 457 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of C3.ai by 4.3% during the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after purchasing an additional 462 shares during the period. Forum Financial Management LP raised its holdings in C3.ai by 4.4% during the second quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after purchasing an additional 539 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of C3.ai by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock valued at $3,630,000 after purchasing an additional 572 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analyst Ratings Changes

AI has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. Piper Sandler Companies reiterated a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Canaccord Genuity Group lowered their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Piper Sandler decreased their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Morgan Stanley dropped their price target on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, C3.ai has a consensus rating of “Hold” and a consensus target price of $27.70.

C3.ai Trading Up 24.5 %

C3.ai stock opened at $33.03 on Wednesday. The firm has a market cap of $4.20 billion, a PE ratio of -14.49 and a beta of 1.80. The stock’s 50 day simple moving average is $25.03 and its two-hundred day simple moving average is $26.04. C3.ai has a 12 month low of $18.85 and a 12 month high of $38.30.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. During the same period last year, the company earned ($0.56) earnings per share. C3.ai’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts forecast that C3.ai will post -2.31 EPS for the current year.

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.