In the latest trading session, 3.2 million Cerence Inc (NASDAQ:CRNC) shares changed hands as the company’s beta touched 2.73. With the company’s most recent per share price at $8.12 changing hands around $0.76 or 10.25% at last look, the market valuation stands at $382.85M. CRNC’s current price is a discount, trading about -166.87% off its 52-week high of $21.67. The share price had its 52-week low at $2.34, which suggests the last value was 71.18% up since then. When we look at Cerence Inc’s average trading volume, we note the 10-day average is 11.19 million shares, with the 3-month average coming to 3.03 million.

Analysts gave the Cerence Inc (CRNC) stock a consensus recommendation rating of Hold, calculated at a mean rating of 2.75. If we narrow down to specifics, the data shows that 2 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended CRNC as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Cerence Inc’s EPS for the current quarter is expected to be -0.26.

Cerence Inc (NASDAQ:CRNC) trade information

Instantly CRNC is in green as seen in intraday trades today. With action 12.78%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -58.70%, with the 5-day performance at 12.78% in the green. However, in the 30-day time frame, Cerence Inc (NASDAQ:CRNC) is 166.67% up. Looking at the short shares, we see there were 6.56 million shares sold at short interest cover period of 3.71 days.

The consensus price target for the stock as assigned by Wall Street analysts is 15, meaning bulls need an upside of 45.87% from its recent market value. According to analyst projections, CRNC’s forecast low is 3.3 with 76 as the target high. To hit the forecast high, the stock’s price needs a -835.96% plunge from its current level, while the stock would need to tank 59.36% for it to hit the projected low.

Cerence Inc (CRNC) estimates and forecasts

Data shows that the Cerence Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 139.53% over the past 6 months, a -87.80% in annual growth rate that is considerably lower than the industry average of 15.40%. Year-over-year growth is forecast to reach -26.83% down from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of 49.2M. 7 analysts are of the opinion that Cerence Inc’s revenue for the current quarter will be 61.81M. The company’s revenue for the corresponding quarters a year ago was 138.34M and 67.83M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -64.43%. The estimates for the next quarter sales put growth at -8.87%.

The 2024 estimates are for Cerence Inc earnings to decrease by -93.90%, but the outlook for the next 5-year period is at 15.00% per year.

CRNC Dividends

Cerence Inc is expected to release its next quarterly earnings report in January.

Cerence Inc (NASDAQ:CRNC)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 5.74% of Cerence Inc shares while 83.41% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 88.49%. There are 83.41% institutions holding the Cerence Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 9.5398% of the shares, roughly 3.98 million CRNC shares worth $11.26 million.

AMERICAN CAPITAL MANAGEMENT INC holds the second largest percentage of outstanding shares, with 9.2977% or 3.88 million shares worth $10.98 million as of 2024-06-30.