Cyxtera Technologies Inc. (NASDAQ: CYXT) stock jumped 0.92% on Thursday to $0.15 against a previous-day closing price of $0.15. With 11.51 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.46 million shares. During the session, the Information Technology Services company that operates in wider Technology sector, reached to the highest price of $0.2250 whereas the lowest price it dropped to was $0.1431. The 52-week range on CYXT shows that it touched its highest point at $15.42 and its lowest point at $0.14 during that stretch. It currently has a 1-year price target of $1.85.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CYXT was down-trending over the past week, with a drop of -4.25%, but this was down by -48.83% over a month. Three-month performance dropped to -93.20% while six-month performance fell -91.81%. The stock lost -98.78% in the past year, while it has lost -92.03% so far this year. A look at the trailing 12-month EPS for CYXT yields -3.56 with Next year EPS estimates of -0.94. For the next quarter, that number is -0.31. This implies an EPS growth rate of -2.90% for this year and 65.70% for next year.
Float and Shares Shorts:
At present, 179.68 million CYXT shares are outstanding with a float of 133.01 million shares on hand for trading. On May 14, 2023, short shares totaled 7.4 million, which was 4.11% higher than short shares on Apr 13, 2023. In addition to Mr. Nelson Fonseca as the firm’s Pres, CEO & Director, Mr. Carlos Sagasta serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 58.70% of CYXT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 15.87% of CYXT, in contrast to 14.55% held by mutual funds. Shares owned by individuals account for 124.84%. As the largest shareholder in CYXT with 11.56% of the stake, Starboard Value LP holds 20,767,571 shares worth 20,767,571. A second-largest stockholder of CYXT, Fidelity Management & Research Co, holds 15,570,680 shares, controlling over 8.67% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CYXT, holding 3,838,062 shares or 2.14% stake. With a 3.68% stake in CYXT, the Fidelity Value Fund is the largest stakeholder. A total of 6,615,613 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.57% of CYXT stock, is the second-largest Mutual Fund holder. It holds 2,811,315 shares valued at 0.91 million. Fidelity Real Estate Equity Centr holds 1.13% of the stake in CYXT, owning 2,029,127 shares worth 0.66 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CYXT reported revenue of $184.10M and operating income of -$9.80M. The EBITDA in the recently reported quarter was $49.80M and diluted EPS was -$0.27.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CYXT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CYXT analysts setting a high price target of $4.00 and a low target of $0.25, the average target price over the next 12 months is $1.85. Based on these targets, CYXT could surge 2566.67% to reach the target high and rise by 66.67% to reach the target low. Reaching the average price target will result in a growth of 1133.33% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CYXT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 610,626 while 439,645,270 shares were sold.
