Cerence Inc. (NASDAQ:CRNC) has a beta value of 0 and has seen 1,394,606 shares traded in the recent trading session. The company, currently valued at $1.87 Billion, closed the recent trade at $49.24 per share which meant it gained $7.76 on the day or 18.71% during that session. The CRNC stock price is -4.47% off its 52-week high price of $51.44 and 76.87% above the 52-week low of $11.39. If we look at the company’s 10-day average daily trading volume, we find that it stood at 641.9 Million shares traded. The 3-month trading volume is 1.14 Million shares.
The consensus among analysts is that Cerence Inc. (CRNC) is an Overweight stock at the moment, with a recommendation rating of 2. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. None out of 8 have rated it as a Hold, with 6 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.07.
Cerence Inc. (NASDAQ:CRNC) trade information
Sporting 18.71% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Aug 04 when the CRNC stock price touched $49.22- or saw a rise of 0.64%. Year-to-date, Cerence Inc. shares have moved 116.08%, while the 5-day performance has seen it change 23.42%. Over the past 30 days, the shares of Cerence Inc. (NASDAQ:CRNC) have changed 17.32%. Short interest in the company has seen 5.75 Million shares shorted with days to cover at 5.04.
Wall Street analysts have a consensus price target for the stock at $38, which means that the shares’ value could jump -22.83% from current levels. The projected low price target is $26 while the price target rests at a high of $50. In that case, then, we find that the current price level is +1.54% off the targeted high while a plunge would see the stock lose -47.2% from current levels.
Cerence Inc. (CRNC) estimates and forecasts
Earnings growth for 2020 is a modest -39.9% while over the next 5 years, the company’s earnings are expected to increase by 15%.
Cerence Inc. (NASDAQ:CRNC)’s Major holders
Insiders own 0.23% of the company shares, while shares held by institutions stand at 89.34% with a share float percentage of 89.54%. Investors are also buoyed by the number of investors in a company, with Cerence Inc. having a total of 305 institutions that hold shares in the company. The top two institutional holders are Ameriprise Financial, Inc. with over 3.55 Million shares worth more than $54.65 Million. As of March 30, 2020, Ameriprise Financial, Inc. held 9.72% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 3.16 Million shares as of March 30, 2020. The firm’s total holdings are worth over $48.67 Million and represent 8.66% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Columbia Fds Ser Tr II-Columbia Seligman Communications & Information and First Tr Exchg Tr AlphaDEX Fd-FT Technology AlphaDEX. As of May 30, 2020, the former fund manager holds about 7.25% shares in the company for having 2647124 shares of worth $79.18 Million while later fund manager owns 1.76 Million shares of worth $37.34 Million as of April 29, 2020, which makes it owner of about 4.83% of company’s outstanding stock.