C3.ai (NYSE:AI) Stock Price Down 1.3%

C3.ai, Inc. (NYSE:AI) shares were down 1.3% on Monday . The stock traded as low as $28.65 and last traded at $28.66. Approximately 765,326 shares changed hands during trading, a decline of 89% from the average daily volume of 6,936,266 shares. The stock had previously closed at $29.04.

Analyst Ratings Changes

Several equities research analysts recently commented on AI shares. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Thursday, May 30th. Piper Sandler cut their target price on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley lifted their price target on shares of C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Canaccord Genuity Group cut their price objective on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Finally, Bank of America boosted their target price on C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, C3.ai has a consensus rating of “Hold” and a consensus target price of $31.30.

C3.ai Price Performance

The firm has a market capitalization of $3.58 billion, a P/E ratio of -12.25 and a beta of 1.84. The firm has a fifty day simple moving average of $25.23 and a two-hundred day simple moving average of $27.19.

Institutional Trading of C3.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new position in C3.ai in the 3rd quarter valued at $25,000. B. Riley Asset Management LLC bought a new position in C3.ai in the 3rd quarter worth about $26,000. Orion Capital Management LLC purchased a new stake in shares of C3.ai in the 3rd quarter valued at about $26,000. ICA Group Wealth Management LLC bought a new stake in shares of C3.ai during the 4th quarter valued at about $29,000. Finally, Toth Financial Advisory Corp grew its holdings in shares of C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

C3.ai Company Profile

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.