C3.ai, Inc. (NYSE:AI) Receives Consensus Rating of “Reduce” from Brokerages

C3.ai, Inc. (NYSE:AI) has received an average rating of “Reduce” from the fourteen brokerages that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $12.9231.

Several research firms have commented on AI. DA Davidson reiterated an “underperform” rating and issued a $7.00 target price on shares of C3.ai in a research report on Thursday, June 4th. UBS Group increased their target price on C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Weiss Ratings upgraded C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. KeyCorp restated an “underweight” rating on shares of C3.ai in a research report on Thursday. Finally, Wedbush restated an “outperform” rating and set a $15.00 price objective on shares of C3.ai in a research report on Thursday, June 4th.

C3.ai Trading Up 1.7%

C3.ai stock opened at $10.61 on Tuesday. The company has a market capitalization of $1.54 billion, a PE ratio of -3.18 and a beta of 2.04. C3.ai has a 12 month low of $7.68 and a 12 month high of $30.11. The stock has a 50-day moving average price of $9.23 and a two-hundred day moving average price of $11.09.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.05. The firm had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.60 million. C3.ai had a negative return on equity of 60.20% and a negative net margin of 187.95%.The business’s quarterly revenue was down 52.5% on a year-over-year basis. During the same period last year, the company earned ($0.16) earnings per share. As a group, analysts predict that C3.ai will post -2.47 earnings per share for the current fiscal year.

Insider Transactions at C3.ai

In other news, CEO Stephen Bradley Ehikian sold 52,194 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $8.22, for a total transaction of $429,034.68. Following the completion of the transaction, the chief executive officer directly owned 721,485 shares in the company, valued at $5,930,606.70. This trade represents a 6.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas M. Siebel sold 369,624 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $8.72, for a total value of $3,223,121.28. Following the transaction, the chief executive officer owned 722,362 shares of the company’s stock, valued at $6,298,996.64. This trade represents a 33.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,610,039 shares of company stock valued at $13,935,574 over the last 90 days. 26.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently made changes to their positions in AI. Western Wealth Management LLC bought a new position in shares of C3.ai during the first quarter worth about $26,000. Larson Financial Group LLC grew its stake in C3.ai by 683.6% during the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,292 shares during the period. Farther Finance Advisors LLC increased its holdings in C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after purchasing an additional 852 shares in the last quarter. Parallel Advisors LLC increased its holdings in C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after purchasing an additional 801 shares in the last quarter. Finally, Comerica Bank increased its holdings in C3.ai by 839.1% in the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after purchasing an additional 2,165 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

About C3.ai

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.