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

C3.ai, Inc. (NYSE:AI) saw some unusual options trading activity on Tuesday. Stock traders acquired 119,549 call options on the company. This is an increase of 167% compared to the typical daily volume of 44,811 call options.

Institutional Trading of C3.ai

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in C3.ai by 3.1% during the first quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after buying an additional 317,768 shares during the last quarter. Geode Capital Management LLC grew its position in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in C3.ai during the 2nd quarter valued at about $3,465,000. Charles Schwab Investment Management Inc. lifted its stake in shares of C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after buying an additional 92,280 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in shares of C3.ai by 541.6% during the first quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock valued at $2,943,000 after buying an additional 91,774 shares during the last quarter. 38.96% of the stock is owned by institutional investors.

C3.ai Price Performance

C3.ai stock traded up $4.54 during trading hours on Tuesday, reaching $31.08. The company had a trading volume of 11,898,207 shares, compared to its average volume of 5,354,212. The company has a 50-day moving average price of $25.03 and a 200 day moving average price of $26.04. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -13.06 and a beta of 1.80. C3.ai has a 12-month low of $18.85 and a 12-month high of $38.30.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. During the same period in the prior year, the firm earned ($0.56) earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, research analysts expect that C3.ai will post -2.31 earnings per share for the current year.

Analysts Set New Price Targets

AI has been the topic of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating and set a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 12th. Wedbush reduced their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. DA Davidson lowered their target price on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Piper Sandler Companies reiterated a “neutral” rating and set 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 issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.70.

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.