C3.ai (NYSE:AI) Hits New 1-Year Low – What’s Next?

C3.ai, Inc. (NYSE:AI)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.72 and last traded at $8.4080, with a volume of 1576173 shares changing hands. The stock had previously closed at $7.95.

Analysts Set New Price Targets

Several research analysts recently commented on AI shares. Bank of America set a $10.00 price objective on shares of C3.ai in a report on Friday, January 30th. BMO Capital Markets set a $7.00 price target on C3.ai in a report on Thursday. UBS Group reiterated a “reduce” rating on shares of C3.ai in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, DA Davidson decreased their price target on C3.ai from $13.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $15.87.

C3.ai Trading Up 5.6%

The business’s fifty day moving average price is $12.23 and its 200-day moving average price is $15.00. The company has a market capitalization of $1.18 billion, a P/E ratio of -2.67 and a beta of 2.05.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.11). C3.ai had a negative return on equity of 53.96% and a negative net margin of 141.35%.The firm had revenue of $53.26 million for the quarter, compared to the consensus estimate of $75.91 million. During the same period last year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was down 46.1% on a year-over-year basis. As a group, equities research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Activity at C3.ai

In other news, Chairman Thomas M. Siebel sold 511,732 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $11.66, for a total transaction of $5,966,795.12. Following the completion of the transaction, the chairman directly owned 722,362 shares of the company’s stock, valued at approximately $8,422,740.92. This represents a 41.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Hitesh Lath sold 15,042 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $14.38, for a total value of $216,303.96. Following the completion of the sale, the chief financial officer directly owned 223,120 shares in the company, valued at $3,208,465.60. The trade was a 6.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,884,304 shares of company stock worth $24,970,674 in the last three months. 26.50% of the stock is owned by insiders.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently bought and sold shares of the business. Silicon Valley Capital Partners bought a new stake in shares of C3.ai during the 2nd quarter valued at about $25,000. Larson Financial Group LLC raised its position in shares of C3.ai by 683.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,292 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of C3.ai by 66.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. Parallel Advisors LLC boosted its position in shares of C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of C3.ai by 839.1% during the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after buying an additional 2,165 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.