C3.ai (NYSE:AI) Sets New 1-Year Low – Time to Sell?

C3.ai, Inc. (NYSE:AI)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $12.45 and last traded at $12.46, with a volume of 1215805 shares. The stock had previously closed at $13.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AI shares. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. DA Davidson reaffirmed an “underperform” rating and set a $13.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Canaccord Genuity Group reissued a “hold” rating and set a $16.00 price target on shares of C3.ai in a research note on Thursday, December 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $21.92.

C3.ai Trading Up 2.9%

The stock has a market capitalization of $1.83 billion, a P/E ratio of -4.59 and a beta of 1.97. The company has a 50-day moving average price of $14.07 and a 200 day moving average price of $17.65.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.08. The company had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) earnings per share. As a group, research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insiders Place Their Bets

In other C3.ai news, CEO Stephen Bradley Ehikian sold 234,918 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $13.56, for a total value of $3,185,488.08. Following the completion of the sale, the chief executive officer directly owned 924,074 shares in the company, valued at approximately $12,530,443.44. This trade represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Hitesh Lath sold 15,042 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $14.38, for a total value of $216,303.96. Following the sale, the chief financial officer owned 223,120 shares in the company, valued at $3,208,465.60. The trade was a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,916,218 shares of company stock valued at $27,468,077. 26.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On C3.ai

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in C3.ai by 5.9% in the second quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company’s stock valued at $69,129,000 after purchasing an additional 156,925 shares during the period. 111 Capital acquired a new position in C3.ai during the second quarter worth $714,000. Magnetar Financial LLC acquired a new position in C3.ai during the second quarter worth $556,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in C3.ai by 1,481.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,173 shares of the company’s stock valued at $12,338,000 after purchasing an additional 470,422 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of C3.ai in the second quarter valued at about $1,063,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.