Currently, there are 41.92M common shares owned by the public and among those 39.89M shares have been available to trade.
The company’s stock has a 5-day price change of -34.99% and 289.32% over the past three months. CRNC shares are trading 67.13% year to date (YTD), with the 12-month market performance down to -31.95% lower. It has a 12-month low price of $2.34 and touched a high of $27.50 over the same period. CRNC has an average intraday trading volume of 7.33 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 19.35%, 74.25%, and 138.92% respectively.
Institutional ownership of Cerence Inc (NASDAQ: CRNC) shares accounts for 78.70% of the company’s 41.92M shares outstanding.
It has a market capitalization of $564.01M and a beta (3y monthly) value of 2.56. The earnings-per-share (ttm) stands at -$14.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.07% over the week and 17.77% over the month.
Analysts forecast that Cerence Inc (CRNC) will achieve an EPS of -0.26 for the current quarter, 0.05 for the next quarter and 0.35 for current fiscal year. The lowest estimate earnings-per-share for the quarter is -0.3 while analysts give the company a high EPS estimate of -0.3. Comparatively, EPS for the current quarter was 1.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -94.08%, and 374.90% over the next financial year.
Looking at the support for the CRNC, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on May 10, 2024, with the firm’s price target at $25-$6.50. Craig Hallum was of a view on February 07, 2024 that the stock is Hold, while Craig Hallum gave the stock Buy rating on February 09, 2023, issuing a price target of $24- $40. Raymond James on their part issued Mkt Perform rating on August 10, 2022.
