The share price of Century Aluminum Company (NASDAQ:CENX) rose to $7.89 per share on Tuesday from $7.76. While Century Aluminum Company has overperformed by 1.68%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CENX fell by -45.17%, with highs and lows ranging from $30.36 to $6.58, whereas the simple moving average fell by -51.04% in the last 200 days.
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On May 18, 2022, Wolfe Research Downgraded Century Aluminum Company (NASDAQ: CENX) to Peer Perform. A report published by Wolfe Research on November 17, 2021, Initiated its previous ‘Outperform’ rating for CENX. B. Riley Securities also Upgraded CENX shares as ‘Buy’, setting a target price of $19 on the company’s shares in a report dated July 27, 2021. BMO Capital Markets June 25, 2020d the rating to Market Perform on June 25, 2020, and set its price target from $6 to $7. B. Riley FBR March 24, 2020d its ‘Buy’ rating to ‘Neutral’ for CENX, as published in its report on March 24, 2020. Morgan Stanley also rated the stock as ‘Equal-Weight’.
Analysis of Century Aluminum Company (CENX)
Further, the quarter-over-quarter increase in sales is 69.70%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Century Aluminum Company’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -2.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and CENX is recording an average volume of 2.51M. On a monthly basis, the volatility of the stock is set at 6.47%, whereas on a weekly basis, it is put at 7.41%, with a gain of 12.07% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.00, showing growth from the present price of $7.89, which can serve as yet another indication of whether CENX is worth investing in or should be passed over.
How Do You Analyze Century Aluminum Company Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 60.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CENX shares?
The recent increase in stakes in CENX appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in CENX has increased by 20.11% in the first quarter. The company now owns 9,162,923 shares of the stock, with a value of $67.53 million, following the purchase of 1,533,844 additional shares during the last quarter. SSgA Funds Management, Inc. made another decreased to its shares in CENX during the first quarter, downing its stake by -6.64%. During the last quarter, the company picked up -399,174 additional shares for a total stake of worth $41.34 million, bringing number of shares owned by the company to 5,608,703.
During the first quarter, The Vanguard Group, Inc. added a 44,166 position in CENX. Dimensional Fund Advisors LP sold an additional -0.45 million shares in the last quarter, decreasing its holdings by -11.70%, now holding 3.38 million shares worth $24.88 million. At the end of the first quarter, Fisher Asset Management LLC increased its CENX holdings by 4.10% and now holds 2.51 million CENX shares valued at $18.5 million with the added 98778.0 shares during the period. CENX shares are owned by institutional investors to the tune of 60.20% at present.
