C3.ai (NYSE:AI) Hits New 52-Week Low - Time to Sell?

C3.ai, Inc. (NYSE:AI - Get Free Report) shares hit a new 52-week low during trading on Friday . The company traded as low as $18.13 and last traded at $19.15, with a volume of 1986078 shares. The stock had previously closed at $20.29.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Northland Securities raised their target price on C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Canaccord Genuity Group cut their target price on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Piper Sandler dropped their target price 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. JMP Securities upped their price target on C3.ai from $40.00 to $55.00 and gave the stock a "market outperform" rating in a report on Tuesday, December 10th. Finally, Morgan Stanley dropped their price objective on C3.ai from $32.00 to $30.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, C3.ai presently has a consensus rating of "Hold" and a consensus target price of $31.33.

C3.ai Stock Up 15.6 %

The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -9.54 and a beta of 2.01. The stock's 50-day moving average price is $25.52 and its 200 day moving average price is $29.20.

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C3.ai (NYSE:AI - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.37). The business had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the sale, the director now owns 161,664 shares of the company's stock, valued at $4,824,053.76. This represents a 6.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. The trade was a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,486,813 shares of company stock valued at $42,407,563 in the last three months. 33.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AI. Two Sigma Investments LP acquired a new position in shares of C3.ai in the 4th quarter valued at $42,306,000. Man Group plc purchased a new position in C3.ai during the fourth quarter worth about $38,455,000. Two Sigma Advisers LP acquired a new stake in shares of C3.ai during the fourth quarter valued at about $30,725,000. Renaissance Technologies LLC raised its stake in shares of C3.ai by 1,242.5% in the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company's stock valued at $24,729,000 after acquiring an additional 664,731 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of C3.ai by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after acquiring an additional 446,529 shares during the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Company Profile

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.