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

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

Analysts Set New Price Targets

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

C3.ai Price Performance

The company has a fifty day moving average price of $14.19 and a 200 day moving average price of $17.82. The company has a market cap of $1.77 billion, a PE ratio of -4.46 and a beta of 1.97.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.08. The business had revenue of $75.15 million during the quarter, compared to analyst estimates of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. C3.ai’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share. As a group, sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Activity at C3.ai

In other C3.ai news, CEO Stephen Bradley Ehikian sold 234,918 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $13.56, for a total transaction of $3,185,488.08. Following the sale, the chief executive officer owned 924,074 shares in the company, valued at $12,530,443.44. This trade represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Thomas M. Siebel sold 543,706 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $15.24, for a total value of $8,286,079.44. Following the transaction, the chairman owned 1,437,174 shares in the company, valued at $21,902,531.76. This trade represents a 27.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,916,218 shares of company stock valued at $27,468,077 over the last 90 days. 26.50% of the stock is owned by insiders.

Hedge Funds Weigh In On C3.ai

A number of large investors have recently bought and sold shares of AI. Silicon Valley Capital Partners purchased a new position in shares of C3.ai in the second quarter worth $25,000. Larson Financial Group LLC grew its holdings in C3.ai by 683.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,292 shares during the last quarter. Parallel Advisors LLC increased its position in shares of C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after acquiring an additional 801 shares during the period. Olistico Wealth LLC bought a new position in shares of C3.ai during the fourth quarter valued at about $34,000. Finally, Financial Consulate Inc. purchased a new stake in shares of C3.ai during the third quarter worth about $36,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.