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

C3.ai, Inc. (NYSE:AI - Get Free Report) saw unusually large options trading activity on Monday. Investors acquired 64,300 call options on the stock. This is an increase of 39% compared to the average daily volume of 46,386 call options.

Institutional Trading of C3.ai

A number of hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in shares of C3.ai by 11.7% during the 1st quarter. Principal Financial Group Inc. now owns 10,703 shares of the company's stock worth $290,000 after acquiring an additional 1,119 shares during the period. Global Assets Advisory LLC bought a new position in shares of C3.ai during the 3rd quarter worth about $743,000. Susquehanna Fundamental Investments LLC bought a new position in shares of C3.ai during the 2nd quarter worth about $3,465,000. EverSource Wealth Advisors LLC lifted its holdings in shares of C3.ai by 4,860.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company's stock worth $865,000 after acquiring an additional 31,302 shares during the period. Finally, Algert Global LLC bought a new position in shares of C3.ai during the 2nd quarter worth about $1,071,000. 38.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on AI. Bank of America decreased their price target on shares of C3.ai from $24.00 to $20.00 and set an "underperform" rating for the company in a report on Thursday, September 5th. Wedbush reduced their price target on shares of C3.ai from $40.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, September 5th. DA Davidson reduced their price target on shares of C3.ai from $30.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, September 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $40.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Finally, Piper Sandler Companies reaffirmed a "neutral" rating and issued a $24.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Three 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $27.70.

C3.ai Stock Up 4.2 %

Shares of AI traded up $1.06 during mid-day trading on Monday, hitting $26.35. 2,316,124 shares of the company's stock were exchanged, compared to its average volume of 5,482,235. The firm has a fifty day moving average of $24.03 and a two-hundred day moving average of $25.53. C3.ai has a twelve month low of $18.85 and a twelve month high of $38.30. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -11.24 and a beta of 1.81.

C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.08. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The business had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. During the same period last year, the business posted ($0.56) EPS. C3.ai's revenue was up 20.5% compared to the same quarter last year. On average, equities analysts predict that C3.ai will post -2.32 earnings per share for the current year.

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.