C3.ai Inc (NYSE:AI) shares are trading lower after Morgan Stanley maintained an Underweight rating on the stock and lowered its price target from $45 to $31.
C3.ai shares were otherwise trading higher Wednesday after the company reported a $100 million buyback.
"We believe strongly in the opportunities ahead for C3 AI, and our potential for creating significant long-term value for all our stakeholders as we execute on our strategic vision," said Thomas M. Siebel, CEO of C3 AI. "We see this as an attractive use of capital while still allowing us to invest in our growth."
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C3.ai operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific and internationally.
C3.ai has a 52-week high of $183.90 and a 52-week low of $27.52.
