Cerence Inc (NASDAQ:CRNC)’s traded shares stood at 2.57 million during the last session, with the company’s beta value hitting 2.69. At the close of trading, the stock’s price was $7.42, to imply an increase of 3.06% or $0.22 in intraday trading. The CRNC share’s 52-week high remains $21.67, putting it -192.05% down since that peak but still an impressive 68.46% since price per share fell to its 52-week low of $2.34. The company has a valuation of $317.78M, with an average of 11.9 million shares in intraday trading volume over the past 10 days and average of 3.13 million shares over the past 3 months.
Analysts have given a consensus recommendation of Hold for Cerence Inc (CRNC), translating to a mean rating of 2.75. Of 11 analyst(s) looking at the stock, 2 analyst(s) give CRNC a Sell rating. 0 of those analysts rate the stock as Overweight while 6 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.26.
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Cerence Inc (NASDAQ:CRNC) trade information
After registering a 3.06% upside in the last session, Cerence Inc (CRNC) has traded red over the past five days. The 5-day price performance for the stock is 10.91%, and 137.82% over 30 days. With these gigs, the year-to-date price performance is -62.26%. Short interest in Cerence Inc (NASDAQ:CRNC) saw shorts transact 6.56 million shares and set a 3.71 days time to cover.
The extremes give us $3.3 and $3.3 for target low and target high price respectively. As such, CRNC has been trading 55.53% off suggested target high and 55.53% from its likely low.
Cerence Inc (CRNC) estimates and forecasts
Looking at statistics comparing Cerence Inc share performance against respective industry, we note that the company has underperformed competitors. Cerence Inc (CRNC) shares are 146.51% up over the last 6 months, with its year-to-date growth rate lower than industry average at -87.80% against 15.30%. The rating firms project that company’s revenue will shrink -26.83% compared to the previous financial year.
Revenue forecast for the current quarter as set by 7 analysts is 49.2M. Meanwhile, for the current quarter, a total of 7 analyst(s) estimate revenue growth to 61.81M.Earnings reports from the last fiscal year show that sales brought in 138.34M and 67.83M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -64.43% before dropping -8.87% in the following quarter.
CRNC Dividends
Cerence Inc has its next earnings report out in January. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Cerence Inc (NASDAQ:CRNC)’s Major holders
Cerence Inc insiders hold 5.74% of total outstanding shares, with institutional holders owning 83.41% of the shares at 88.49% float percentage. In total, 83.41% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 3.98 million shares (or 9.5398% of shares), all amounting to roughly $11.26 million.
The next major institution holding the largest number of shares is AMERICAN CAPITAL MANAGEMENT INC with 3.88 million shares, or about 9.2977% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $10.98 million.
