C3.ai (NYSE:AI) Stock Price Down 0.5%

C3.ai, Inc. (NYSE:AIGet Free Report)’s share price traded down 0.5% on Tuesday . The stock traded as low as $28.77 and last traded at $29.32. 2,450,459 shares traded hands during trading, a decline of 65% from the average session volume of 7,028,806 shares. The stock had previously closed at $29.46.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AI. Morgan Stanley lifted their price target on shares of C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Bank of America lifted their price target on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Northland Securities upgraded shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Thursday, May 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a report on Wednesday, May 29th. Three investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.30.

Check Out Our Latest Report on AI

C3.ai Stock Down 0.9 %

The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of -12.53 and a beta of 1.84. The company’s fifty day simple moving average is $24.48 and its 200 day simple moving average is $27.10.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently modified their holdings of AI. DekaBank Deutsche Girozentrale bought a new stake in shares of C3.ai in the third quarter valued at about $25,000. B. Riley Asset Management LLC bought a new stake in C3.ai during the third quarter worth about $26,000. Orion Capital Management LLC bought a new stake in C3.ai during the third quarter worth about $26,000. Toth Financial Advisory Corp lifted its position in C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in C3.ai during the fourth quarter worth about $29,000. Institutional investors own 38.96% of the company’s stock.

About C3.ai

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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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