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

C3.ai, Inc. (NYSE:AI) was the recipient of some unusual options trading activity on Thursday. Traders acquired 162,614 call options on the company. This is an increase of 128% compared to the average daily volume of 71,385 call options.

C3.ai Stock Up 8.1 %

Shares of AI stock opened at $22.04 on Friday. The stock’s 50-day moving average price is $22.26 and its 200 day moving average price is $28.81. The stock has a market capitalization of $2.93 billion, a PE ratio of -9.97 and a beta of 2.01. C3.ai has a 52-week low of $17.03 and a 52-week high of $45.08.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. Analysts expect that C3.ai will post -2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley dropped their target price on C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. KeyCorp lowered their target price on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating on the stock in a research note on Thursday, April 17th. DA Davidson cut their price target on C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Piper Sandler lowered their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group cut their price objective on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.58.

Insider Activity at C3.ai

In related news, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total value of $18,252,022.88. Following the transaction, the chief executive officer now owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. This represents a 29.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,446,967 shares of company stock valued at $37,175,326. 33.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On C3.ai

A number of institutional investors have recently modified their holdings of the company. Brown Lisle Cummings Inc. increased its stake in C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. R Squared Ltd acquired a new stake in shares of C3.ai in the fourth quarter valued at about $29,000. Garde Capital Inc. purchased a new stake in shares of C3.ai during the first quarter valued at approximately $29,000. Russell Investments Group Ltd. boosted its holdings in C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. Finally, WealthTrak Capital Management LLC acquired a new stake in shares of C3.ai during the fourth quarter worth approximately $33,000. 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.