C3.ai (NYSE:AI) Hits New 52-Week Low – Should You Sell?

C3.ai, Inc. (NYSE:AI) shares hit a new 52-week low on Friday . The stock traded as low as $18.13 and last traded at $19.15, with a volume of 1986078 shares trading hands. The stock had previously closed at $20.29.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AI. JMP Securities raised their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. KeyCorp decreased their price objective on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a research note on Wednesday, December 11th. Finally, Northland Securities boosted their price objective on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, C3.ai presently has an average rating of “Hold” and an average target price of $31.33.

C3.ai Trading Down 6.6 %

The stock has a market cap of $2.51 billion, a PE ratio of -8.57 and a beta of 2.01. The firm’s 50-day moving average price is $26.32 and its two-hundred day moving average price is $29.30.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Merel Witteveen sold 1,133 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the sale, the vice president now owns 7,287 shares in the company, valued at $162,135.75. This represents a 13.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the completion of the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,486,813 shares of company stock valued at $42,407,563. 33.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently modified their holdings of the business. Versant Capital Management Inc raised its stake in shares of C3.ai by 417.5% during the 1st quarter. Versant Capital Management Inc now owns 1,868 shares of the company’s stock worth $39,000 after buying an additional 1,507 shares during the period. Wellington Management Group LLP acquired a new position in C3.ai during the fourth quarter worth $4,287,000. California State Teachers Retirement System lifted its holdings in C3.ai by 2.4% during the fourth quarter. California State Teachers Retirement System now owns 103,932 shares of the company’s stock valued at $3,578,000 after purchasing an additional 2,442 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of C3.ai by 44.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,180 shares of the company’s stock worth $557,000 after purchasing an additional 4,941 shares in the last quarter. Finally, Probity Advisors Inc. raised its position in shares of C3.ai by 10.0% during the 4th quarter. Probity Advisors Inc. now owns 16,706 shares of the company’s stock worth $575,000 after purchasing an additional 1,514 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

About C3.ai

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.