C3.ai (NYSE:AI – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06, FiscalAI reports. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business had revenue of $52.38 million during the quarter, compared to analysts’ expectations of $52.06 million.
C3.ai Stock Performance
C3.ai stock traded up $0.17 during trading on Wednesday, reaching $10.51. The company had a trading volume of 7,580,177 shares, compared to its average volume of 6,059,272. The firm has a market capitalization of $1.63 billion, a PE ratio of -3.15 and a beta of 2.10. The firm’s 50-day simple moving average is $9.45 and its 200 day simple moving average is $9.43. C3.ai has a 1-year low of $7.68 and a 1-year high of $20.22.
Insider Activity at C3.ai
In related news, CEO Thomas M. Siebel sold 472,005 shares of C3.ai stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $11.11, for a total value of $5,243,975.55. Following the sale, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $8,025,441.82. The trade was a 39.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Hitesh Lath sold 48,619 shares of C3.ai stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $8.77, for a total value of $426,388.63. Following the completion of the sale, the chief financial officer directly owned 383,106 shares in the company, valued at $3,359,839.62. This represents a 11.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 1,241,760 shares of company stock valued at $13,084,895. 26.50% of the stock is owned by corporate insiders.
Institutional Trading of C3.ai
Wall Street Analyst Weigh In
AI has been the subject of several recent research reports. Weiss Ratings upgraded C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Citizens Jmp restated a “market perform” rating on shares of C3.ai in a research report on Thursday, June 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a report on Thursday, June 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of C3.ai in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and an average price target of $10.09.
View Our Latest Stock Report on C3.ai
About C3.ai
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.
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