Cerence Inc (NASDAQ:CRNC) has a beta value of 2.65 and has seen 3.24 million shares traded in the last trading session. The company, currently valued at $270.48M, closed the last trade at $6.47 per share which meant it lost -$0.59 on the day or -8.36% during that session. The CRNC stock price is -234.93% off its 52-week high price of $21.67 and 63.83% 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 10.7 million shares traded. The 3-month trading volume is 2.95 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 -0.26.
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Cerence Inc (NASDAQ:CRNC) trade information
Sporting -8.36% in the red 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 $6.47 or saw a rise of 16.3%. Year-to-date, Cerence Inc shares have moved -67.09%, while the 5-day performance has seen it change 117.85%. Over the past 30 days, the shares of Cerence Inc (NASDAQ:CRNC) have changed 99.69%. Short interest in the company has seen 6.56 million shares shorted with days to cover at 3.71.
Wall Street analysts have a consensus price target for the stock at $15, which means that the shares’ value could jump 56.87% 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 -1074.65% off the targeted high while a plunge would see the stock lose 49.0% from current levels.
Cerence Inc (CRNC) estimates and forecasts
Figures show that Cerence Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 65.90% over the past 6 months, with this year growth rate of -82.11%, compared to 15.60% for the industry. Revenue growth from the last financial year stood is estimated to be -26.83%.
7 analysts offering their estimates for the company have set an average revenue estimate of 49.2M for the current quarter. 7 have an estimated revenue figure of 61.81M for the next ending quarter. Year-ago sales stood 138.34M and 67.83M respectively for this quarter and the next, and analysts expect sales will shrink by -64.43% for the current quarter and -26.83% for the next.
Earnings growth for 2024 is a modest -95.82% 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 December 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 5.74% of the company shares, while shares held by institutions stand at 83.41% with a share float percentage of 88.49%. Investors are also buoyed by the number of investors in a company, with Cerence Inc having a total of 234.0 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 $8.24 million while later fund manager owns 1.11 shares of worth $7.19 million as of Sep 30, 2024 , which makes it owner of about 2.66% of company’s outstanding stock.
