Cerence Inc (NASDAQ:CRNC) has a beta value of 2.86 and has seen 2.14 million shares traded in the last trading session. The company, currently valued at $593.57M, closed the last trade at $13.74 per share which meant it lost -$0.78 on the day or -5.37% during that session. The CRNC stock price is -100.15% off its 52-week high price of $27.50 and 82.97% 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 3.94 million shares traded. The 3-month trading volume is 8.81 million shares.
The consensus among analysts is that Cerence Inc (CRNC) is Hold stock at the moment, with a recommendation rating of 2.43. 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 0.3.
Cerence Inc (NASDAQ:CRNC) trade information
Sporting -5.37% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the CRNC stock price touched $13.74 or saw a rise of 17.92%. Year-to-date, Cerence Inc shares have moved 75.03%, while the 5-day performance has seen it change -5.11%. Over the past 30 days, the shares of Cerence Inc (NASDAQ:CRNC) have changed 2.58%. Short interest in the company has seen 8.04 million shares shorted with days to cover at 0.49.
Wall Street analysts have a consensus price target for the stock at $15, which means that the shares’ value could jump 8.4% 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 -453.13% off the targeted high while a plunge would see the stock lose 75.98% from current levels.
Cerence Inc (CRNC) estimates and forecasts
The company’s shares have gained 466.60% over the past 6 months. Revenue growth from the last financial year stood is estimated to be -26.58%.
7 analysts offering their estimates for the company have set an average revenue estimate of 75.41M for the current quarter. 7 have an estimated revenue figure of 58.8M for the next ending quarter. Year-ago sales stood 67.83M and 70.54M respectively for this quarter and the next, and analysts expect sales will grow by 11.18% for the current quarter and -26.58% for the next.
Earnings growth for 2025 is a modest -88.04% while over the next 5 years, the company’s earnings are expected to decrease by -20.56%.
CRNC Dividends
Cerence Inc is expected to release its next earnings report in March 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 8.06% of the company shares, while shares held by institutions stand at 77.71% with a share float percentage of 84.52%. Investors are also buoyed by the number of investors in a company, with Cerence Inc having a total of 236.0 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 9.2819% 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 Sep 30, 2024 , the former fund manager holds about 2.95% shares in the company for having 1.27 shares of worth $17.49 million while later fund manager owns 1.19 shares of worth $16.39 million as of Nov 30, 2024 , which makes it owner of about 2.76% of company’s outstanding stock.
