The Vanguard Group, Inc. recently announced the acquisition of new stake in Cyxtera Technologies Inc. (NASDAQ:CYXT). The institutional investor has increased its shareholding in the Technology company by 3.77% to 2.14 million shares with purchase of 77885.0 shares. This fresh investment now brings its stake to 1.19% valued currently at $0.7 million. In addition, Millennium Management LLC raised its holdings by 0.96 million to 2.05 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.89% or 12834.0 shares – to 1.45 million shares.
With over 1.6 million Cyxtera Technologies Inc. (CYXT) shares trading Tuesday and a closing price of $0.16 on the day, the dollar volume was approximately $0.26 million. The shares have shown a negative half year performance of -92.12% and its price on 05/23/23 lost nearly -0.68%. Currently, there are 179.68M common shares owned by the public and among those 133.01M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for CYXT have a consensus price objective of $1.85. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $0.25. The average price target is 91.35% above its recent price level and an upside to the estimated low will see the stock gain 36.0% over that period. But an upside of 96.0% will see the stock hit the forecast high price target while median target price for the stock is $1.00.
Insiders at the company have transacted a total of 29 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 610,626 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 439,645,270 shares.
The top 3 mutual fund holders in Cyxtera Technologies Inc. are Fidelity Value Fund, Vanguard Total Stock Market ETF, and Fidelity Real Estate Equity Centr. Fidelity Value Fund owns 6.62 million shares of the company’s stock, all valued at over $2.15 million. The company bought an additional 0.62 million shares recently to bring their total holdings to about 3.68% of the shares outstanding. Vanguard Total Stock Market ETF bought 1.69 million shares to see its total holdings expand to 2.81 million shares valued at over $0.91 million and representing 1.57% of the shares outstanding. Fidelity Real Estate Equity Centr bought 0.43 million shares to bring its total holdings to over 2.03 million shares at a value of $0.66 million. Fidelity Real Estate Equity Centr now owns shares totaling to 1.13% of the shares outstanding.
However, the script later moved the day high at 0.1696, down -0.68%. The company’s stock has a 5-day price change of -5.88% and -93.01% over the past three months. CYXT shares are trading -91.67% year to date (YTD), with the 12-month market performance down to -98.74% lower. It has a 12-month low price of $0.14 and touched a high of $15.42 over the same period. CYXT has an average intraday trading volume of 1.26 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -28.33%, -68.81%, and -94.36% respectively.
Institutional ownership of Cyxtera Technologies Inc. (NASDAQ: CYXT) shares accounts for 61.50% of the company’s 179.68M shares outstanding. Mutual fund holders own 14.14%, while other institutional holders and individual stakeholders account for 15.86% and 124.84% respectively.
It has a market capitalization of $30.72M. The earnings-per-share (ttm) stands at -$3.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.30% over the week and 20.01% over the month.
Analysts forecast that Cyxtera Technologies Inc. (CYXT) will achieve an EPS of -$0.31 for the current quarter, -$0.32 for the next quarter and -$0.94 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.31 while analysts give the company a high EPS estimate of -$0.31. Comparatively, EPS for the current quarter was -$0.27 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.90%, and 65.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Cyxtera Technologies Inc. (CYXT) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 1 rated it as a “Sell.”
