Short Interest in C3.ai, Inc. (NYSE:AI) Declines By 5.1%

C3.ai, Inc. (NYSE:AI - Get Free Report) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 24,560,000 shares, a decrease of 5.1% from the September 30th total of 25,870,000 shares. Based on an average daily volume of 3,700,000 shares, the short-interest ratio is currently 6.6 days.

Wall Street Analyst Weigh In

AI has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research report on Thursday, September 5th. Oppenheimer reissued an "outperform" rating and set a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler lowered their price objective on C3.ai from $29.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, September 5th. Wedbush cut their target price on C3.ai from $40.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. Finally, Morgan Stanley decreased their target price on C3.ai from $23.00 to $21.00 and set an "underweight" rating on the stock in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $27.70.

C3.ai Stock Down 5.1 %

NYSE AI traded down $1.32 during trading hours on Thursday, hitting $24.63. 3,144,625 shares of the company were exchanged, compared to its average volume of 5,438,196. C3.ai has a 52 week low of $18.85 and a 52 week high of $38.30. The stock has a 50-day moving average price of $24.10 and a 200 day moving average price of $25.58. The stock has a market cap of $3.13 billion, a PE ratio of -11.38 and a beta of 1.81.

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

Hedge Funds Weigh In On C3.ai

Large investors have recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in C3.ai in the second quarter worth $29,000. Unique Wealth Strategies LLC purchased a new stake in shares of C3.ai in the second quarter valued at approximately $28,000. Blue Trust Inc. grew its stake in C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company's stock worth $28,000 after purchasing an additional 615 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in C3.ai during the 3rd quarter valued at $25,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company's stock worth $30,000 after buying an additional 795 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.