Cyxtera Technologies Inc. (NASDAQ:CYXT) closed Monday at $2.66 per share, up from $2.46 a day earlier. While Cyxtera Technologies Inc. has overperformed by 8.13%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CYXT fell by -76.04%, with highs and lows ranging from $15.42 to $1.53, whereas the simple moving average fell by -64.92% in the last 200 days.
On December 14, 2022, Exane BNP Paribas started tracking Cyxtera Technologies Inc. (NASDAQ: CYXT) recommending Underperform. A report published by Citigroup on August 24, 2022, Upgraded its rating to ‘Buy’ for CYXT. Credit Suisse also rated CYXT shares as ‘Outperform’, setting a target price of $15 on the company’s shares in an initiating report dated April 07, 2022. UBS Initiated an Neutral rating on January 03, 2022, and assigned a price target of $14. RBC Capital Mkts initiated its ‘Outperform’ rating for CYXT, as published in its report on December 16, 2021. Truist’s report from December 10, 2021 suggests a price prediction of $15 for CYXT shares, giving the stock a ‘Buy’ rating. Raymond James also rated the stock as ‘Outperform’.
Analysis of Cyxtera Technologies Inc. (CYXT)
Further, the quarter-over-quarter increase in sales is 5.40%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Cyxtera Technologies Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -33.50% 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and CYXT is recording an average volume of 578.69K. On a monthly basis, the volatility of the stock is set at 9.13%, whereas on a weekly basis, it is put at 10.70%, with a gain of 13.19% over the past seven days. Furthermore, long-term investors anticipate a median target price of $6.00, showing growth from the present price of $2.66, which can serve as yet another indication of whether CYXT is worth investing in or should be passed over.
How Do You Analyze Cyxtera Technologies Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 0.20%. 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 61.50% 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 CYXT shares?
The recent increase in stakes in CYXT appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co made another decreased to its shares in CYXT during the first quarter, downing its stake by -8.78%. During the last quarter, the company dropped down -1,732,441 additional shares for a total stake of worth $34.57 million, bringing number of shares owned by the company to 18,003,802.
During the first quarter, FIAM LLC subtracted a -292,046 position in CYXT. BlackRock Fund Advisors purchased an additional 0.19 million shares in the last quarter, increasing its holdings by 8.75%, now holding 2.36 million shares worth $4.54 million. At the end of the first quarter, The Vanguard Group, Inc. increased its CYXT holdings by 20.09% and now holds 2.07 million CYXT shares valued at $3.97 million with the added 0.35 million shares during the period. CYXT shares are owned by institutional investors to the tune of 61.50% at present.