Cerence Inc (NASDAQ:CRNC) has a beta value of 2.36 and has seen 1.08 million shares traded in the last trading session. The company, currently valued at $140.87M, closed the last trade at $3.37 per share which meant it gained $0.11 on the day or 3.37% during that session. The CRNC stock price is -543.03% off its 52-week high price of $21.67 and 30.56% above the 52-week low of $2.34. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.84 million shares traded. The 3-month trading volume is 1.45 million shares.
The consensus among analysts is that Cerence Inc (CRNC) is Hold stock at the moment, with a recommendation rating of 2.75. 2 analysts rate the stock as a Sell, while 0 rate it as Overweight. 6 out of 11 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.38.
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Cerence Inc (NASDAQ:CRNC) trade information
Sporting 3.37% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the CRNC stock price touched $3.37 or saw a rise of 17.6%. Year-to-date, Cerence Inc shares have moved -82.86%, while the 5-day performance has seen it change 25.75%. Over the past 30 days, the shares of Cerence Inc (NASDAQ:CRNC) have changed 19.93%. Short interest in the company has seen 5.8 million shares shorted with days to cover at 3.6.
Wall Street analysts have a consensus price target for the stock at $15, which means that the shares’ value could jump 77.53% from current levels. The projected low price target is $3.3 while the price target rests at a high of $76.0. In that case, then, we find that the current price level is -2155.19% off the targeted high while a plunge would see the stock lose 2.08% from current levels.
Cerence Inc (CRNC) estimates and forecasts
Figures show that Cerence Inc shares have outperformed across the wider relevant industry. The company’s shares have lost -74.78% over the past 6 months, with this year growth rate of 155.56%, compared to 14.40% for the industry. Revenue growth from the last financial year stood is estimated to be 10.10%.
8 analysts offering their estimates for the company have set an average revenue estimate of 47.65M for the current quarter. 5 have an estimated revenue figure of 55.39M for the next ending quarter. Year-ago sales stood 80.8M and 132.83M respectively for this quarter and the next, and analysts expect sales will shrink by -41.00% for the current quarter and 10.10% for the next.
Earnings growth for 2024 is a modest 152.57% while over the next 5 years, the company’s earnings are expected to increase by 15.00%.
CRNC Dividends
Cerence Inc is expected to release its next earnings report in November this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Cerence Inc (NASDAQ:CRNC)’s Major holders
Insiders own 3.35% of the company shares, while shares held by institutions stand at 93.02% with a share float percentage of 96.24%. Investors are also buoyed by the number of investors in a company, with Cerence Inc having a total of 269.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 3.98 million shares worth more than $11.26 million. As of 2024-06-30, VANGUARD GROUP INC held 9.5398% of shares outstanding.
The other major institutional holder is AMERICAN CAPITAL MANAGEMENT INC, with the holding of over 3.88 million shares as of 2024-06-30. The firm’s total holdings are worth over $10.98 million and represent 9.2977% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF . As of Jun 30, 2024 , the former fund manager holds about 3.04% shares in the company for having 1.27 shares of worth $4.29 million while later fund manager owns 1.14 shares of worth $3.85 million as of Aug 31, 2024 , which makes it owner of about 2.74% of company’s outstanding stock.
