In last trading session, Cerence Inc (NASDAQ:CRNC) saw 1.1 million shares changing hands with its beta currently measuring 2.36. Company’s recent per share price level of $3.18 trading at $0.06 or 1.92% at ring of the bell on the day assigns it a market valuation of $132.94M. That closing price of CRNC’s stock is at a discount of -581.45% from its 52-week high price of $21.67 and is indicating a premium of 26.42% from its 52-week low price of $2.34. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.91 million shares which gives us an average trading volume of 1.50 million if we extend that period to 3-months.
For Cerence Inc (CRNC), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 2.75. Splitting up the data highlights that, out of 11 analysts covering the stock, 2 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 6 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -0.36 in the current quarter.
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Cerence Inc (NASDAQ:CRNC) trade information
Upright in the green during last session for gaining 1.92%, in the last five days CRNC remained trading in the green while hitting it’s week-highest on Wednesday, 11/06/24 when the stock touched $3.18 price level, adding 6.19% to its value on the day. Cerence Inc’s shares saw a change of -83.83% in year-to-date performance and have moved 1.92% in past 5-day. Cerence Inc (NASDAQ:CRNC) showed a performance of -15.20% in past 30-days. Number of shares sold short was 6.44 million shares which calculate 2.64 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 15 to the stock, which implies a rise of 78.8% to its current value. Analysts have been projecting 3.3 as a low price target for the stock while placing it at a high target of 76. It follows that stock’s current price would drop -3.77% in reaching the projected high whereas dropping to the targeted low would mean a loss of -3.77% for stock’s current value.
Cerence Inc (CRNC) estimates and forecasts
Statistics highlight that Cerence Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -66.74% of value to its shares in past 6 months, showing an annual growth rate of 155.56% while that of industry is 14.00. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 10.10% from the last financial year’s standing.
8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 47.65M for the same. And 6 analysts are in estimates of company making revenue of 55.7M in the next quarter. Company posted 80.8M and 132.83M of sales in current and next quarters respectively a year earlier.
In 2024, company’s earnings growth rate is likely to be around 152.38% while estimates for its earnings growth in next 5 years are of 15.00%.
Cerence Inc (NASDAQ:CRNC)’s Major holders
Insiders are in possession of 5.74% of company’s total shares while institution are holding 85.09 percent of that, with stock having share float percentage of 90.28%. Investors also watch the number of corporate investors in a company very closely, which is 85.09% institutions for Cerence Inc that are currently holding shares of the company. VANGUARD GROUP INC is the top institutional holder at CRNC for having 3.98 million shares of worth $11.26 million. And as of 2024-06-30, it was holding 9.5398 of the company’s outstanding shares.
The second largest institutional holder is AMERICAN CAPITAL MANAGEMENT INC, which was holding about 3.88 million shares on 2024-06-30. The number of shares represents firm’s hold over 9.2977 of outstanding shares, having a total worth of $10.98 million.
