C3.ai Sees Unusually High Options Volume (NYSE:AI)

C3.ai, Inc. (NYSE:AI - Get Free Report) 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 typical daily volume of 44,811 call options.

C3.ai Price Performance

Shares of AI traded up $6.49 during trading hours on Tuesday, hitting $33.03. The stock had a trading volume of 27,872,960 shares, compared to its average volume of 5,425,173. C3.ai has a 12 month low of $18.85 and a 12 month high of $38.30. The firm has a market capitalization of $4.20 billion, a PE ratio of -13.06 and a beta of 1.80. The stock has a fifty day moving average price of $25.03 and a 200 day moving average price of $26.04.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $86.94 million. During the same quarter in the previous year, the company posted ($0.56) earnings per share. C3.ai's revenue was up 20.5% compared to the same quarter last year. As a group, analysts anticipate that C3.ai will post -2.31 EPS for the current fiscal year.

Institutional Trading of C3.ai

Hedge funds have recently bought and sold shares of the stock. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of C3.ai in the third quarter worth about $25,000. Unique Wealth Strategies LLC bought a new position in C3.ai in the second quarter worth approximately $28,000. Blue Trust Inc. boosted its position in C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company's stock valued at $28,000 after acquiring an additional 615 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in C3.ai during the 2nd quarter valued at $29,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company's stock valued at $30,000 after acquiring an additional 795 shares in the last quarter. Institutional investors own 38.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AI. Oppenheimer reiterated an "outperform" rating and set a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Bank of America lowered their price objective on C3.ai from $24.00 to $20.00 and set an "underperform" rating for the company in a research note 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 lowered their price objective on C3.ai from $29.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, September 5th. Finally, Wedbush decreased their price target on C3.ai from $40.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $27.70.

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.