C3.ai, Inc. (NYSE:AI) is seeing a significant drop in short interest

C3.ai, Inc. (NYSE:AI – Get Free Report ) received a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 25,500,000 shares, down 10.0% from its August 31st total of 28,340,000 shares. Based on an average daily volume of 3,830,000 shares, the short interest rate is currently 6.7 days.

Institutional trading of C3.ai

Several large investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in shares of C3.ai in the fourth quarter valued at $29,000. Toth Financial Advisory Corp boosted its position in C3.ai by 900.0% in 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 during the period. Hobbs Group Advisors LLC bought a new stake in C3.ai in the second quarter valued at approximately $29,000. Unique Wealth Strategies LLC purchased a new position in C3.ai in the second quarter valued at approximately $28,000. Finally, Blue Trust Inc. raised its stake in shares of C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s shares.

C3.ai stock performance

Shares of AI stock traded down $0.15 during trading on Friday, hitting $24.22. The company had a trading volume of 2,192,475 shares, compared to its average volume of 5,773,948. The firm has a market cap of $3.02 billion, a P/E ratio of -10.35 and a beta of 1.81. C3.ai has a one year low of $18.85 and a one year high of $38.30. The stock’s 50-day moving average price is $24.29 and its 200-day moving average price is $25.82.

C3.ai (NYSE:AI – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The business had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. C3.ai’s revenue for the quarter was up 20.5% compared to the same quarter last year. In the same quarter last year, the company earned ($0.56) earnings per share. On average, research analysts anticipate that C3.ai will post -2.32 earnings per share for the current fiscal year.

Analysts set new price targets

AI has been the subject of several analyst reports. Canaccord Genuity Group cut their price target on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. DA Davidson decreased their price target 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. Bank of America decreased their price objective on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Three investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.70.

View the latest stock report on AI

C3.ai company profile

(Get a free report)

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, Middle East, Africa, Asia Pacific and internationally. The company offers the 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 analytics-ready data; C3 AI CRM, an industry-specific customer relationship management solution; and the C3 Generative AI Product Suite that enables locating, retrieving and presenting information.

Further reading

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