C3.ai, Inc. (NYSE:AI - Get Free Report) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 24,770,000 shares, an increase of 8.8% from the November 15th total of 22,770,000 shares. Based on an average daily volume of 5,500,000 shares, the days-to-cover ratio is currently 4.5 days.
In other news, CFO Hitesh Lath sold 11,339 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the sale, the chief financial officer now owns 851 shares of the company's stock, valued at $35,742. This trade represents a 93.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John E. Hyten sold 5,000 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $38.37, for a total transaction of $191,850.00. Following the transaction, the director now owns 263,843 shares in the company, valued at approximately $10,123,655.91. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,339 shares of company stock worth $5,918,088. 33.54% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Comerica Bank increased its holdings in shares of C3.ai by 305.1% during the first quarter. Comerica Bank now owns 1,203 shares of the company's stock worth $33,000 after purchasing an additional 906 shares during the period. Blue Trust Inc. lifted its holdings in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company's stock worth $28,000 after acquiring an additional 615 shares during the period. Raymond James & Associates boosted its position in shares of 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 acquiring an additional 20,753 shares in the last quarter. Western Wealth Management LLC bought a new position in C3.ai in the second quarter valued at approximately $289,000. Finally, Nisa Investment Advisors LLC lifted its stake in C3.ai by 10.9% during the second quarter. Nisa Investment Advisors LLC now owns 22,335 shares of the company's stock worth $647,000 after purchasing an additional 2,187 shares during the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on AI. Northland Securities raised their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Oppenheimer reissued an "outperform" rating and set a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. StockNews.com raised C3.ai to a "sell" rating in a report on Tuesday, November 26th. Piper Sandler Companies reiterated a "neutral" rating and issued a $24.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research note on Tuesday, December 10th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $35.55.
Read Our Latest Report on C3.ai
NYSE AI traded up $0.40 on Tuesday, hitting $43.34. 2,491,019 shares of the stock were exchanged, compared to its average volume of 5,953,908. C3.ai has a 52 week low of $18.85 and a 52 week high of $45.08. The company has a market capitalization of $5.51 billion, a PE ratio of -19.44 and a beta of 2.00. The business's fifty day moving average is $30.77 and its 200 day moving average is $27.80.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider C3.ai, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and C3.ai wasn't on the list.
While C3.ai currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.