C3.ai Target of Unusually High Options Trading (NYSE:AI)

C3.ai, Inc. (NYSE:AI) was the target of unusually large options trading on Tuesday. Investors purchased 134,956 put options on the stock. Thisrepresentsanincreaseofapproximately68% compared to the typical daily volume of 80,498 put options.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AI. JPMorgan Chase & Co. lowered their price objective on C3.ai from $27.00 to $23.00 and set an “underweight” rating for the company in a research note on Thursday, May 29th. Oppenheimer downgraded C3.ai from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Wall Street Zen raised C3.ai from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Morgan Stanley increased their price objective on C3.ai from $20.00 to $22.00 and gave the stock an “underweight” rating in a research note on Thursday, May 29th. Finally, Canaccord Genuity Group lowered their price objective on C3.ai from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.43.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 17,689 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $24.96, for a total value of $441,517.44. Following the transaction, the chief financial officer owned 166,218 shares in the company, valued at approximately $4,148,801.28. This represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard C. Levin sold 36,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.17, for a total value of $1,014,120.00. Following the completion of the sale, the director directly owned 161,664 shares of the company’s stock, valued at approximately $4,554,074.88. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,685,115 shares of company stock valued at $43,700,880. 33.54% of the stock is currently owned by corporate insiders.

Institutional Trading of C3.ai

Institutional investors and hedge funds have recently modified their holdings of the business. Zweig DiMenna Associates LLC bought a new position in C3.ai during the first quarter valued at $274,000. Susquehanna Fundamental Investments LLC bought a new position in C3.ai during the fourth quarter valued at $3,159,000. Banque Cantonale Vaudoise bought a new position in C3.ai during the first quarter valued at $390,000. GAMMA Investing LLC grew its holdings in C3.ai by 4,846.5% during the first quarter. GAMMA Investing LLC now owns 12,020 shares of the company’s stock valued at $253,000 after purchasing an additional 11,777 shares during the period. Finally, McGuire Investment Group LLC grew its holdings in C3.ai by 782.5% during the first quarter. McGuire Investment Group LLC now owns 80,893 shares of the company’s stock valued at $1,703,000 after purchasing an additional 71,727 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Trading Up 2.7%

Shares of AI opened at $16.92 on Wednesday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -7.55 and a beta of 1.98. The stock has a 50 day moving average of $24.92 and a 200 day moving average of $24.55. C3.ai has a 12 month low of $14.70 and a 12 month high of $45.08.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. The company had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. C3.ai’s revenue was up 25.5% on a year-over-year basis. During the same period last year, the business posted ($0.11) earnings per share. As a group, equities research analysts predict that C3.ai will post -2.44 earnings per share for the current year.

About C3.ai

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.