Moors & Cabot Inc. Has $277,000 Stake in C3.ai, Inc. (NYSE:AI)

Moors & Cabot Inc. lowered its holdings in C3.ai, Inc. (NYSE:AI) by 39.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,413 shares of the company’s stock after selling 7,500 shares during the quarter. Moors & Cabot Inc.’s holdings in C3.ai were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of 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. Bank of New York Mellon Corp boosted its stake in C3.ai by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after purchasing an additional 1,929 shares during the last quarter. Raymond James & Associates increased its holdings in C3.ai by 11.5% during the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock worth $5,829,000 after purchasing an additional 20,753 shares in the last quarter. Rhumbline Advisers raised its stake in shares of C3.ai by 0.5% in the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after purchasing an additional 572 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of C3.ai in the second quarter valued at approximately $3,465,000. Institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AI shares. Canaccord Genuity Group lowered their price target on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. DA Davidson lowered their target price on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Oppenheimer restated an “outperform” rating and set a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Bank of America decreased their price objective on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, Wedbush cut their target price on C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.70.

C3.ai Price Performance

Shares of NYSE AI opened at $37.42 on Friday. The stock has a market capitalization of $4.75 billion, a PE ratio of -16.41 and a beta of 1.80. C3.ai, Inc. has a one year low of $18.85 and a one year high of $38.30. The business’s fifty day moving average price is $26.01 and its 200-day moving average price is $26.30.

C3.ai (NYSE:AI) last posted its 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. The firm had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.56) earnings per share. As a group, equities analysts expect that C3.ai, Inc. will post -2.31 EPS for the current fiscal year.

C3.ai 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.