C3.ai (NYSE:AI) Shares Gap Down to $27.45

Shares of C3.ai, Inc. (NYSE:AIGet Free Report) gapped down prior to trading on Friday . The stock had previously closed at $27.45, but opened at $26.75. C3.ai shares last traded at $26.55, with a volume of 236,520 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on AI. Canaccord Genuity Group decreased their price target on C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley lifted their price objective on C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research report on Wednesday, May 29th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Finally, Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Thursday, May 30th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, C3.ai has a consensus rating of “Hold” and a consensus price target of $31.30.

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C3.ai Stock Performance

The business has a 50-day moving average price of $25.57 and a two-hundred day moving average price of $27.19.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale bought a new stake in C3.ai in the third quarter valued at about $25,000. Orion Capital Management LLC acquired a new position in C3.ai in the third quarter valued at about $26,000. B. Riley Asset Management LLC acquired a new position in C3.ai in the third quarter valued at about $26,000. Toth Financial Advisory Corp grew its stake in C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 900 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in C3.ai in the fourth quarter valued at about $29,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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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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