C3.ai (NYSE:AI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of C3.ai (NYSE:AI) from a sell rating to a hold rating in a report issued on Sunday morning,Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on the stock. KeyCorp restated an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Citizens Jmp reiterated a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd. Citigroup reissued a “market perform” rating on shares of C3.ai in a research note on Thursday, September 3rd. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, September 3rd. Finally, Weiss Ratings upgraded shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $8.70.

C3.ai Stock Performance

C3.ai stock opened at $10.82 on Friday. The business’s fifty day moving average is $9.76 and its two-hundred day moving average is $9.44. The firm has a market cap of $1.68 billion, a P/E ratio of -3.51 and a beta of 2.10. C3.ai has a 52 week low of $7.68 and a 52 week high of $20.22.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%.The company had revenue of $52.38 million during the quarter, compared to analyst estimates of $52.06 million. During the same period last year, the company posted ($0.37) earnings per share. The firm’s quarterly revenue was down 25.4% compared to the same quarter last year. On average, equities research analysts predict that C3.ai will post -2.22 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other news, CEO Thomas M. Siebel sold 453,314 shares of C3.ai stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total transaction of $4,764,330.14. Following the completion of the sale, the chief executive officer owned 722,362 shares in the company, valued at $7,592,024.62. The trade was a 38.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen Ehikian sold 50,542 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.45, for a total transaction of $477,621.90. Following the completion of the transaction, the chief executive officer owned 651,130 shares in the company, valued at $6,153,178.50. This represents a 7.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 751,645 shares of company stock worth $7,623,459. Company insiders own 19.80% of the company’s stock.

Institutional Trading of C3.ai

A number of institutional investors have recently bought and sold shares of AI. Comerica Bank lifted its stake in C3.ai by 839.1% in the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after buying an additional 2,165 shares during the period. Western Wealth Management LLC bought a new stake in shares of C3.ai in the 1st quarter valued at about $26,000. AdvisorNet Financial Inc bought a new stake in shares of C3.ai in the 1st quarter valued at about $34,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of C3.ai in the 4th quarter valued at approximately $71,000. Finally, CoreCap Advisors LLC raised its position in shares of C3.ai by 34.0% in the 2nd quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock valued at $56,000 after acquiring an additional 1,560 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

About C3.ai

C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.

The company’s offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.