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Cyxtera Technologies Inc. (NASDAQ: CYXT) Is Worth A Look At Current Prices?

During the last session, Cyxtera Technologies Inc. (NASDAQ:CYXT)’s traded shares were 1.3 million. At the end of the trading day, the stock’s price was $0.15, reflecting an intraday loss of -5.19% or -$0.01. The 52-week high for the CYXT share is $15.42, that puts it down -10180.0 from that peak though still a striking 6.67% gain since the share price plummeted to a 52-week low of $0.14. The company’s market capitalization is $29.13M, and the average intraday trading volume over the past 10 days was 1.19 million shares, and the average trade volume was 1.28 million shares over the past three months.

Cyxtera Technologies Inc. (CYXT) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. CYXT has a Sell rating from 1 analyst(s) out of 5 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.31.

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Cyxtera Technologies Inc. (NASDAQ:CYXT) trade information

Cyxtera Technologies Inc. (CYXT) registered a -5.19% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -5.19% in intraday trading to $0.15 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -12.16%, and it has moved by -45.41% in 30 days. Based on these gigs, the overall price performance for the year is -98.82%. The short interest in Cyxtera Technologies Inc. (NASDAQ:CYXT) is 6.19 million shares and it means that shorts have 3.67 day(s) to cover.

The consensus price target of analysts on Wall Street is $1.85, which implies an increase of 91.89% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $0.25 and $4.00 respectively. As a result, CYXT is trading at a discount of -2566.67% off the target high and -66.67% off the low.

Cyxtera Technologies Inc. (CYXT) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -14.80% this quarter and then drop -3.20% in the quarter after that. In the rating firms’ projections, revenue will increase 4.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $194.35 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $193.76 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $184.1 million and $187.2 million respectively. In this case, analysts expect current quarter sales to grow by 5.60% and then jump by 3.50% in the coming quarter.

While earnings are projected to return -2.90% in 2023.

CYXT Dividends

Cyxtera Technologies Inc. is due to release its next quarterly earnings between May 10 and May 15. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Cyxtera Technologies Inc. (NASDAQ:CYXT)’s Major holders

Cyxtera Technologies Inc. insiders own 25.94% of total outstanding shares while institutional holders control 58.70%, with the float percentage being 79.26%. BC Partners Advisors L.P. is the largest shareholder of the company, while 137 institutions own stock in it. As of Mar 30, 2023, the company held over 47.68 million shares (or 26.44% of all shares), a total value of $14.56 million in shares.

The next largest institutional holding, with 20.77 million shares, is of Starboard Value LP’s that is approximately 11.52% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $6.34 million.

Also, the Mutual Funds coming in first place with the largest holdings of Cyxtera Technologies Inc. (CYXT) shares are Fidelity Value Fund and Fidelity Central Investment Port-Real Estate Equity Central Fd. Data provided on Feb 27, 2023 indicates that Fidelity Value Fund owns about 6.0 million shares. This amounts to just over 3.34 percent of the company’s overall shares, with a $13.44 million market value. The same data shows that the other fund manager holds slightly less at 2.03 million, or about 1.13% of the stock, which is worth about $3.9 million.

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