C3.ai Inc (NYSE: AI) stock jumped 0.96% on Friday to $29.31 against a previous-day closing price of $29.03. With 5.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 8.11 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $29.80 whereas the lowest price it dropped to was $28.77. The 52-week range on AI shows that it touched its highest point at $48.87 and its lowest point at $10.16 during that stretch. It currently has a 1-year price target of $26.09. Beta for the stock currently stands at 1.61.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AI was up-trending over the past week, with a rise of 9.69%, but this was up by 16.17% over a month. Three-month performance dropped to -7.77% while six-month performance rose 15.94%. The stock gained 116.31% in the past year, while it has gained 161.93% so far this year. A look at the trailing 12-month EPS for AI yields -2.34 with Next year EPS estimates of -0.02. For the next quarter, that number is -0.18. This implies an EPS growth rate of -2.89% for this year and 94.84% for next year.
Float and Shares Shorts:
At present, 110.44 million AI shares are outstanding with a float of 101.17 million shares on hand for trading. On Oct 30, 2023, short shares totaled 36.32 million, which was 30.73% higher than short shares on Sep 28, 2023. In addition to Mr. Thomas M. Siebel as the firm’s Founder, CEO & Chairman of the Board, Mr. Edward Y. Abbo serves as its President & CTO.
Institutional Ownership:
Through their ownership of 47.52% of AI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 27.38% of AI, in contrast to 23.98% held by mutual funds. Shares owned by individuals account for 17.88%. As the largest shareholder in AI with 8.96% of the stake, The Vanguard Group, Inc. holds 10,279,383 shares worth 10,279,383. A second-largest stockholder of AI, BlackRock Fund Advisors, holds 4,634,817 shares, controlling over 4.04% of the firm’s shares. Goldman Sachs & Co. LLC is the third largest shareholder in AI, holding 3,852,808 shares or 3.36% stake. With a 2.82% stake in AI, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,233,478 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.32% of AI stock, is the second-largest Mutual Fund holder. It holds 2,659,636 shares valued at 64.9 million. iShares Russell 2000 ETF holds 1.23% of the stake in AI, owning 1,406,993 shares worth 34.33 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AI analysts setting a high price target of $42.00 and a low target of $14.00, the average target price over the next 12 months is $26.09. Based on these targets, AI could surge 43.3% to reach the target high and fall by -52.23% to reach the target low. Reaching the average price target will result in a decline of -10.99% from current levels.
Summary of Insider Activity:
Insiders traded AI stock several times over the past three months with 3 Buys and 7 Sells. In these transactions, 162,983 shares were bought while 107,555 shares were sold. The number of buy transactions has increased to 29 while that of sell transactions has risen to 50 over the past year. The total number of shares bought during that period was 2,081,582 while 1,499,658 shares were sold.
