C3.ai, Inc. (NYSE:AI) Sees Significant Increase in Short Interest

C3.ai, Inc. (NYSE:AI) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 24,770,000 shares, a growth of 8.8% from the November 15th total of 22,770,000 shares. Based on an average trading volume of 5,500,000 shares, the days-to-cover ratio is presently 4.5 days.

Insider Transactions at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $476,238.00. Following the sale, the chief financial officer now directly owns 851 shares of the company’s stock, valued at $35,742. The trade was a 93.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John E. Hyten sold 5,000 shares of C3.ai stock in a transaction on Thursday, December 12th. The stock was 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 trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,339 shares of company stock valued at $5,918,088. 33.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On C3.ai

A number of hedge funds and other institutional investors have recently bought and sold shares of AI. American Century Companies Inc. grew its stake in shares of C3.ai by 2.1% in the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after acquiring an additional 432 shares during the period. Victory Capital Management Inc. raised its stake in C3.ai by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after buying an additional 457 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of C3.ai by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock valued at $323,000 after buying an additional 462 shares during the period. Forum Financial Management LP boosted its stake in shares of C3.ai by 4.4% in the 2nd quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after buying an additional 539 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of C3.ai by 0.5% in the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after acquiring an additional 572 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Up 0.9 %

Shares of AI traded up $0.40 during mid-day trading on Tuesday, hitting $43.34. 2,491,019 shares of the company’s stock traded hands, compared to its average volume of 5,953,908. The business’s 50-day moving average price is $30.77 and its 200-day moving average price is $27.80. The firm has a market capitalization of $5.51 billion, a P/E ratio of -19.44 and a beta of 2.00. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AI shares. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Wedbush reduced their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a report on Wednesday, December 11th. Piper Sandler upped their price target on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Canaccord Genuity Group raised their price objective on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.55.

C3.ai Company Profile

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.