Cyxtera Technologies, Inc. (NASDAQ:CYXT – Get Rating) shot up 8.1% on Tuesday . The company traded as high as $2.57 and last traded at $2.54. 539,053 shares changed hands during trading, an increase of 36% from the average session volume of 397,475 shares. The stock had previously closed at $2.35.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CYXT. Raymond James decreased their price target on Cyxtera Technologies from $13.00 to $7.00 and set an "outperform" rating for the company in a research note on Wednesday, November 9th. Cowen cut their target price on Cyxtera Technologies to $9.00 in a research note on Tuesday, November 15th. BNP Paribas began coverage on Cyxtera Technologies in a research report on Wednesday, December 14th. They set an "underperform" rating and a $2.00 target price on the stock. UBS Group decreased their price objective on Cyxtera Technologies from $14.00 to $3.00 and set a "neutral" rating for the company in a report on Wednesday, November 9th. Finally, Truist Financial reduced their price objective on Cyxtera Technologies from $15.00 to $6.00 and set a "buy" rating for the company in a research note on Thursday, December 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.47.
Get Cyxtera Technologies alerts:Cyxtera Technologies Stock Performance
The company has a market capitalization of $456.23 million, a price-to-earnings ratio of -2.10 and a beta of 0.84. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.46 and a current ratio of 0.46. The company's fifty day simple moving average is $2.00 and its two-hundred day simple moving average is $5.27.
Cyxtera Technologies (NASDAQ:CYXT – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.12). Cyxtera Technologies had a negative net margin of 28.78% and a negative return on equity of 29.61%. The firm had revenue of $186.60 million during the quarter, compared to the consensus estimate of $187.67 million. Equities research analysts predict that Cyxtera Technologies, Inc. will post -1.05 earnings per share for the current fiscal year.Hedge Funds Weigh In On Cyxtera Technologies
Several large investors have recently bought and sold shares of CYXT. Balyasny Asset Management LLC acquired a new stake in shares of Cyxtera Technologies in the 3rd quarter valued at approximately $2,775,000. Jane Street Group LLC grew its stake in shares of Cyxtera Technologies by 1,555.8% during the 3rd quarter. Jane Street Group LLC now owns 12,601 shares of the company's stock worth $51,000 after acquiring an additional 11,840 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Cyxtera Technologies by 111.5% in the third quarter. Alliancebernstein L.P. now owns 39,518 shares of the company's stock valued at $161,000 after buying an additional 20,833 shares in the last quarter. State Street Corp grew its stake in shares of Cyxtera Technologies by 23.2% in the third quarter. State Street Corp now owns 1,439,968 shares of the company's stock valued at $5,875,000 after buying an additional 271,086 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Cyxtera Technologies by 18.7% in the third quarter. Vanguard Group Inc. now owns 2,163,531 shares of the company's stock valued at $8,827,000 after buying an additional 340,469 shares in the last quarter.
About Cyxtera Technologies
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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.
Further Reading
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