C3.ai (NYSE:AI) Stock Price Down 1.8%

Shares of C3.ai, Inc. (NYSE:AIGet Free Report) fell 1.8% during mid-day trading on Tuesday . The company traded as low as $30.58 and last traded at $30.78. 1,479,443 shares changed hands during trading, a decline of 79% from the average session volume of 6,988,042 shares. The stock had previously closed at $31.36.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AI shares. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research report on Wednesday, May 29th. Bank of America boosted their price objective on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Thursday, May 30th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Finally, Piper Sandler dropped their price objective on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.30.

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C3.ai Trading Up 1.2 %

The stock’s 50-day moving average is $24.81 and its 200-day moving average is $27.16. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -13.14 and a beta of 1.84.

Institutional Trading of C3.ai

Hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund raised its stake in shares of C3.ai by 32.6% in the fourth quarter. New York State Common Retirement Fund now owns 33,135 shares of the company’s stock worth $951,000 after purchasing an additional 8,141 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in C3.ai during the 4th quarter worth $202,000. Charles Schwab Investment Management Inc. raised its holdings in shares of C3.ai by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 706,677 shares of the company’s stock valued at $20,289,000 after purchasing an additional 66,701 shares during the last quarter. Vanguard Group Inc. boosted its holdings in C3.ai by 6.7% during the third quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock worth $267,383,000 after purchasing an additional 659,986 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in C3.ai in the 4th quarter worth about $25,630,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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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.

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