Short Interest in Cyxtera Technologies, Inc. (NASDAQ:CYXT) Declines By 37.5% – MarketBeat
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Cyxtera Technologies, Inc. (NASDAQ:CYXT – Get Rating) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 3,800,000 shares, a decline of 37.5% from the October 15th total of 6,080,000 shares. Based on an average trading volume of 804,100 shares, the days-to-cover ratio is presently 4.7 days. Approximately 5.2% of the company’s stock are short sold.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. UBS Group cut their price objective on shares of Cyxtera Technologies from $14.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup raised shares of Cyxtera Technologies from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, August 24th. Raymond James cut their price target on shares of Cyxtera Technologies from $13.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday. Truist Financial cut their price target on shares of Cyxtera Technologies from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, September 20th. Finally, Credit Suisse Group cut their price target on shares of Cyxtera Technologies to $6.00 in a research report on Thursday, October 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.00.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BC Partners Advisors L.P. grew its stake in Cyxtera Technologies by 3.5% in the 1st quarter. BC Partners Advisors L.P. now owns 47,676,705 shares of the company’s stock valued at $582,609,000 after buying an additional 1,627,561 shares during the last quarter. FMR LLC grew its stake in Cyxtera Technologies by 2.0% in the 2nd quarter. FMR LLC now owns 23,816,520 shares of the company’s stock valued at $270,080,000 after buying an additional 473,991 shares during the last quarter. Starboard Value LP grew its stake in Cyxtera Technologies by 25.7% in the 1st quarter. Starboard Value LP now owns 20,767,571 shares of the company’s stock valued at $253,780,000 after buying an additional 4,241,256 shares during the last quarter. State Street Corp grew its stake in Cyxtera Technologies by 102.8% in the 2nd quarter. State Street Corp now owns 1,168,882 shares of the company’s stock valued at $13,255,000 after buying an additional 592,643 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Cyxtera Technologies by 47.4% during the 3rd quarter. Pacer Advisors Inc. now owns 700,785 shares of the company’s stock worth $2,859,000 after purchasing an additional 225,308 shares in the last quarter.
Cyxtera Technologies Stock Performance
Shares of CYXT stock traded up $0.16 on Friday, reaching $2.64. The stock had a trading volume of 696,043 shares, compared to its average volume of 677,493. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 3.06. The firm’s 50-day moving average is $3.67 and its two-hundred day moving average is $8.95. The firm has a market capitalization of $474.20 million, a price-to-earnings ratio of -2.18 and a beta of 1.07. Cyxtera Technologies has a 12 month low of $2.08 and a 12 month high of $15.42.
Cyxtera Technologies (NASDAQ:CYXT – Get Rating) last issued its earnings results on Thursday, August 11th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.08). Cyxtera Technologies had a negative net margin of 28.78% and a negative return on equity of 28.82%. The firm had revenue of $184.10 million during the quarter, compared to the consensus estimate of $185.00 million. During the same period in the previous year, the company posted ($0.88) earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts expect that Cyxtera Technologies will post -1.05 EPS for the current fiscal year.
Cyxtera Technologies Company Profile
(Get Rating)
Cyxtera Technologies, Inc provides various data center products and services for enterprises, service providers, and government agencies. It offers retail colocation, interconnection, deployment, and support services; and Bare Metal, an on-demand IT infrastructure solution. The company is headquartered in Coral Gables, Florida.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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