BlackRock Fund Advisors has recently announced that it has increased stake in Cyxtera Technologies Inc. (NASDAQ:CYXT) by 8.75%. After grabbing 2.36 million shares, the institutional investor is now in possession of 0.19 million shares of the Technology Company. The new investment brought the stake of investor firm to 1.32% having worth around $5.72 million. Moreover, The Vanguard Group, Inc. increased its share by 0.35 million to have a control over 2.07 million shares. And Teachers Advisors LLC raised its holdings to 39203.0 shares by acquiring 1.55 million shares or 0.87% of the stake.
Cyxtera Technologies Inc. (CYXT) concluded trading on 11/23/22 at a closing price of $1.79, with 0.47 million shares of worth about $0.85 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -86.09% during that period and on Wednesday the price saw a loss of about -4.28%. Currently the company’s common shares owned by public are about 179.12M shares, out of which, 133.01M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the CYXT stock and their offered price forecasts bring an average price target of $8.86. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $15.00 and could fall to a lowest price of $3.00. The stock’s current price level is 79.8% above of average price target set by the analysts, while a rise to estimated low would result in gain of 40.33% for the stock. However, touching the estimated high of $15.00 would mean a gain of 88.07% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 59 times over the past 12 months. They bought 22,619,284 shares in 40 of the transactions. In 19 selling transactions, insiders dumped 439,645,270 shares.
Fidelity Small Cap Value Fund, Fidelity Value Fund, and TIAA-CREF Real Estate Securities are the top 3 mutual funds which are holding stakes in Cyxtera Technologies Inc. Fidelity Small Cap Value Fund is currently holding 5.87 million shares of worth totaling $14.21 million. The company recently came buying 0.0 shares which brought its stake up to 3.29% of the company’s outstanding shares. TIAA-CREF Real Estate Securities, after buying 1.35 million shares, have now control over 0.76% of the stake in the company. It holds 0.0 shares of worth $3.27 million.
Cyxtera Technologies Inc. (NASDAQ: CYXT) started trading at $1.86, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 1.8800, or with a loss of -4.28%. Stock saw a price change of -15.96% in past 5 days and over the past one month there was a price change of -34.91%. Year-to-date (YTD), CYXT shares are showing a performance of -85.80% which decreased to -81.28% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.85 but also hit the highest price of $15.42 during that period. The average intraday trading volume for Cyxtera Technologies Inc. shares is 780.37K. The stock is currently trading -22.94% below its 20-day simple moving average (SMA20), while that difference is down -43.95% for SMA50 and it goes to -81.21% lower than SMA200.
BlackRock Fund Advisors acquired 2.36 million shares of Cyxtera Technologies Inc. having value of about $5.72 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.19 million shares in the company valued at close to $340330.91, or have control over 8.75% stake in the company. Cyxtera Technologies Inc. (NASDAQ: CYXT) currently have 179.12M outstanding shares and institutions hold larger chunk of about 61.40% of that. Holding of mutual funds in the company is about 15.21% while other institutional holders and individual stake holders have control over 18.87% and 124.50% of the stake respectively.
The stock has a current market capitalization of $318.32M. It has posted earnings per share of -$2.71 in the same period. It has Quick Ratio of 0.50 while making debt-to-equity ratio of 3.51. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CYXT, volatility over the week remained 8.62% while standing at 10.48% over the month.
Analysts are in expectations that Cyxtera Technologies Inc. (CYXT) stock would likely to be making an EPS of -$0.21 in the current quarter, while forecast for next quarter EPS is -$0.21 and it is -$0.68 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.29 which is -$0.15 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to drop by -161.80% while it is estimated to increase by 10.00% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on August 24, 2022 offering a Buy rating for the stock and assigned a target price of $13 to it. Coverage by Credit Suisse stated Cyxtera Technologies Inc. (CYXT) stock as an Outperform in their note to investors on April 07, 2022, suggesting a price target of $15 for the stock. On January 03, 2022, UBS Initiated their recommendations, while on December 16, 2021, RBC Capital Mkts Initiated their ratings for the stock with a price target of $13. Stock get a Buy rating from Truist on December 10, 2021.