C3.ai (NYSE:AI) Reaches New 1-Year Low – Time to Sell?

C3.ai, Inc. (NYSE:AI)’s stock price hit a new 52-week low on Monday . The stock traded as low as $9.90 and last traded at $9.9750, with a volume of 954457 shares traded. The stock had previously closed at $10.38.

Analyst Ratings Changes

AI has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st. Bank of America set a $10.00 price objective on shares of C3.ai in a report on Friday, January 30th. DA Davidson reissued an “underperform” rating and issued a $13.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, December 4th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $16.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $21.00.

C3.ai Price Performance

The stock’s 50 day simple moving average is $12.73 and its two-hundred day simple moving average is $15.36. The company has a market capitalization of $1.36 billion, a P/E ratio of -3.42 and a beta of 1.98.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.08. The firm had revenue of $75.15 million during the quarter, compared to analysts’ expectations 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 was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) EPS. As a group, equities research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other C3.ai news, Chairman Thomas M. Siebel sold 511,732 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $11.66, for a total value of $5,966,795.12. Following the transaction, the chairman directly owned 722,362 shares of the company’s stock, valued at approximately $8,422,740.92. This trade represents a 41.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Bradley Ehikian sold 234,918 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were 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 of the company’s stock, valued at $12,530,443.44. The trade was a 20.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,884,304 shares of company stock worth $24,970,674. Company insiders own 26.50% of the company’s stock.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in C3.ai during the fourth quarter worth about $871,000. Invesco Ltd. grew its holdings in C3.ai by 29.5% during the fourth quarter. Invesco Ltd. now owns 452,653 shares of the company’s stock valued at $6,102,000 after purchasing an additional 103,058 shares during the period. Axxcess Wealth Management LLC increased its stake in C3.ai by 12.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 45,000 shares of the company’s stock valued at $607,000 after purchasing an additional 5,000 shares in the last quarter. VARCOV Co. acquired a new stake in C3.ai in the fourth quarter worth $2,409,000. Finally, Voloridge Investment Management LLC bought a new position in shares of C3.ai during the fourth quarter worth $9,183,000. Institutional investors own 38.96% of the company’s stock.

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.