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

C3.ai, Inc. (NYSE:AI) saw some unusual options trading on Thursday. Stock traders purchased 76,266 call options on the company. This represents an increase of 58% compared to the typical daily volume of 48,323 call options.

C3.ai Price Performance

NYSE AI traded up $0.23 during trading on Thursday, reaching $8.88. The company’s stock had a trading volume of 2,858,467 shares, compared to its average volume of 6,099,306. The stock has a market capitalization of $1.29 billion, a PE ratio of -2.82 and a beta of 2.00. The firm has a fifty day moving average of $8.86 and a 200 day moving average of $11.87. C3.ai has a one year low of $7.68 and a one year high of $30.24.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). The business had revenue of $53.26 million during the quarter, compared to the consensus estimate of $75.91 million. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.C3.ai’s revenue was down 46.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.12) earnings per share. Research analysts expect that C3.ai will post -3.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Stephen Bradley Ehikian sold 52,194 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $8.22, for a total transaction of $429,034.68. Following the sale, the chief executive officer directly owned 721,485 shares in the company, valued at approximately $5,930,606.70. The trade was a 6.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jim H. Snabe acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of $9.00 per share, for a total transaction of $225,000.00. Following the completion of the purchase, the director owned 395,000 shares in the company, valued at $3,555,000. This trade represents a 6.76% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 1,111,051 shares of company stock valued at $9,547,130. 26.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On C3.ai

A number of institutional investors have recently made changes to their positions in AI. Dimensional Fund Advisors LP increased its holdings in shares of C3.ai by 77.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock worth $31,284,000 after buying an additional 785,508 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of C3.ai in the 3rd quarter worth $13,379,000. Voloridge Investment Management LLC bought a new position in shares of C3.ai in the 4th quarter worth $9,183,000. Federated Hermes Inc. increased its position in shares of C3.ai by 93,578.8% during the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock valued at $9,105,000 after purchasing an additional 674,703 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of C3.ai by 2,831.4% during the 3rd quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after purchasing an additional 535,557 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Key Stories Impacting C3.ai

Here are the key news stories impacting C3.ai this week:

• Positive Sentiment: Preliminary fourth-quarter revenue came in roughly in line with guidance and the company said its loss narrowed, suggesting some operational improvement. C3.ai Q4 Preliminary Results: Revenues Meet Expectations, Loss Narrows
• Positive Sentiment: Canaccord Genuity raised its price target on C3.ai to $8 from $7, indicating slightly improved expectations even though the firm kept a Hold rating. Canaccord Raises C3.ai Price Target as Tom Siebel Returns to the CEO Seat
• Neutral Sentiment: Tom Siebel has returned as CEO less than a year after stepping down, signaling a reset in leadership as the company works through restructuring. Tom Siebel returns as C3.ai CEO less than a year after stepping down
• Neutral Sentiment: Broader market coverage highlights continued investor interest in AI-related stocks, which may provide some support to sentiment for enterprise AI names. S&P 500 Headed for Massive Highs Ahead? ETFs in Focus
• Negative Sentiment: Bookings missed expectations in the preliminary report, and the shares were already down sharply after the update, underscoring ongoing concerns about demand and execution. C3.ai Q4 Preliminary Results: Revenues Meet Expectations, Loss Narrows
• Negative Sentiment: DA Davidson reiterated an Underperform rating and a $7 price target, implying downside from recent trading levels. DA Davidson rating and price target update

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AI. UBS Group reaffirmed a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. BMO Capital Markets set a $7.00 target price on shares of C3.ai in a report on Thursday, February 26th. DA Davidson reaffirmed an “underperform” rating and set a $7.00 target price on shares of C3.ai in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $15.00 target price on shares of C3.ai in a report on Wednesday. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $6.00 target price on shares of C3.ai in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, C3.ai currently has an average rating of “Reduce” and an average price target of $15.93.

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.