C3.ai Sees Surge in Options Trading Activity

C3.ai, Inc. (NYSE:AI) experienced an unusual surge in options trading on Friday. Investors purchased 144,455 call options for the stock, a striking increase of about 95% compared to the average volume of 74,127 call options. This heightened activity indicates a significant interest in the stock as traders anticipate potential price movement.

Wall Street Analyst Insights

Several research firms have recently updated their evaluations of C3.ai. For instance, Morgan Stanley has raised its price target for C3.ai shares from $21.00 to $32.00 while maintaining an "underweight" rating as of December 10. In contrast, JPMorgan Chase lowered its rating from "neutral" to "underweight" with a new price target of $28.00 as of December 11. Northland Securities took a more bullish stance by increasing its price objective from $35.00 to $45.00 and giving a rating of "outperform." Meanwhile, Piper Sandler also raised its price target from $24.00 to $42.00, classifying the stock as "neutral". Conversely, StockNews.com downgraded C3.ai to a "sell" rating on November 26. Overall, analysts show mixed opinions about the stock, with five analysts rating it as a sell, five as hold, four as buy, and one as strong buy. According to MarketBeat, C3.ai currently holds an average rating of "Hold" with a price target of $35.00.

C3.ai Market Performance

On Friday, C3.ai's stock traded down by 0.5%, reaching $33.47 with a trading volume of 3,735,912 shares, which is lower than its average volume of 4,566,853. The company has a market capitalization of $4.32 billion, with a PE ratio of -15.15 and a beta of 1.98. Over the past year, the stock has hit a low of $18.85 and a high of $45.08, reflecting its volatility in the market.

Insider Trading Activity

In recent insider trading activities, CFO Hitesh Lath sold 11,339 shares on December 9, collecting about $476,238. After the sale, his holdings dropped to 851 shares, valued around $35,742. Additionally, Director Richard C. Levin sold 12,000 shares on February 3 for about $358,080 and still retains 161,664 shares valued at approximately $4.82 million. Over the last ninety days, insiders have sold 1,090,552 shares of C3.ai stock, which amounts to approximately $41.5 million. Company insiders hold about 33.54% of the stock.

Institutional Investor Activity

Many institutional investors have adjusted their positions in C3.ai. Zurcher Kantonalbank Zurich Cantonalbank increased its stake by 33.7% in the fourth quarter, now holding 32,148 shares worth $1.11 million. Amundi has significantly raised its stake by 604.3%, owning 49,571 shares after purchasing an additional 42,533 shares. HM Payson & Co. has also increased its holdings by 152.9%, now owning 1,477 shares valued at $51,000. Other investors like Edgestream Partners L.P. and Raymond James Financial Inc. have acquired new stakes in the company, showcasing widespread interest among large investors.

Overview of C3.ai

C3.ai, Inc. operates within the enterprise artificial intelligence (AI) software sector, providing services across North America, Europe, the Middle East, Africa, and the Asia Pacific. The company's offerings include the C3 AI platform for developing enterprise AI applications, the C3 AI Ex Machina for data analysis, and the C3 AI CRM for customer relationship management solutions.

Additional Insights

For investors considering their next moves, it's essential to be aware of expert recommendations regarding C3.ai and other stocks. Analysts have varied opinions, and a diverse set of resources is available to evaluate potential investment opportunities.

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