The 36-month beta value for CRNC is also noteworthy at 2.36. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 7 rating it as “hold,” and 0 rating it as “sell.”
The public float for CRNC is 40.12M, and at present, short sellers hold a 14.46% of that float. The average trading volume of CRNC on October 16, 2024 was 1.45M shares.
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CRNC) stock’s latest price update
Cerence Inc (NASDAQ: CRNC) has experienced a rise in its stock price by 5.03 compared to its previous closing price of 3.08. However, the company has seen a fall of -11.85% in its stock price over the last five trading days. globenewswire.com reported 2024-10-11 that BURLINGTON, Mass., Oct. 11, 2024 (GLOBE NEWSWIRE) — Cerence Inc. (NASDAQ: CRNC) (the “Company”), AI for a world in motion, today announced that, in connection with Brian Krzanich’s recent appointment as Chief Executive Officer and President effective October 7, 2024, the Company granted Mr. Krzanich an initial equity award with a target aggregate value of $6 million, based on the average closing price of the Company’s common stock over the trailing 20 trading days ending on the date of grant. Such award consists of 1,038,062 time-based restricted stock units and a target of 1,038,062 performance-based restricted stock units. The time-based restricted stock units will vest in three equal installments on each of October 7, 2025, October 7, 2026, and October 7, 2027, in each case subject to Mr. Krzanich’s continued service with the Company through the applicable vesting date. The performance-based restricted stock units will be earned based on the achievement of Company performance metrics during the three fiscal-year period ending on September 30, 2027, subject to Mr. Krzanich’s continued service with the Company through the date that the Company publicly issues its earnings release for fiscal year 2027. All of these awards were granted as an inducement material to Mr. Krzanich entering into employment with the Company pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
CRNC’s Market Performance
Cerence Inc (CRNC) has seen a -11.85% fall in stock performance for the week, with a 32.58% gain in the past month and a 7.12% surge in the past quarter. The volatility ratio for the week is 9.58%, and the volatility levels for the past 30 days are at 11.13% for CRNC. The simple moving average for the past 20 days is 7.90% for CRNC’s stock, with a -62.10% simple moving average for the past 200 days.
Analysts’ Opinion of CRNC
Many brokerage firms have already submitted their reports for CRNC stocks, with Wells Fargo repeating the rating for CRNC by listing it as a “Equal Weight.” The predicted price for CRNC in the upcoming period, according to Wells Fargo is $6.50 based on the research report published on May 10, 2024 of the current year 2024.
Craig Hallum gave a rating of “Hold” to CRNC, setting the target price at $22 in the report published on February 07th of the current year.
CRNC Trading at 9.16% from the 50-Day Moving Average
After a stumble in the market that brought CRNC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -85.07% of loss for the given period.
Volatility was left at 11.13%, however, over the last 30 days, the volatility rate increased by 9.58%, as shares surge +29.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +37.34% upper at present.
During the last 5 trading sessions, CRNC fell by -11.31%, which changed the moving average for the period of 200-days by -83.44% in comparison to the 20-day moving average, which settled at $3.00. In addition, Cerence Inc saw -83.55% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CRNC starting from BEAUDOIN THOMAS L, who sale 11,403 shares at the price of $2.89 back on Oct 07 ’24. After this action, BEAUDOIN THOMAS L now owns 206,054 shares of Cerence Inc, valued at $32,955 using the latest closing price.
Roman Katherine, the VP Corporate Controller of Cerence Inc, sale 2,225 shares at $2.89 during a trade that took place back on Oct 07 ’24, which means that Roman Katherine is holding 37,965 shares at $6,430 based on the most recent closing price.
Stock Fundamentals for CRNC
Current profitability levels for the company are sitting at:
- 0.16 for the present operating margin
- 0.74 for the gross margin
The net margin for Cerence Inc stands at -1.62. The total capital return value is set at 0.12. Equity return is now at value -135.17, with -58.33 for asset returns.
Based on Cerence Inc (CRNC), the company’s capital structure generated 0.65 points at debt to capital in total, while cash flow to debt ratio is standing at 0.08. The debt to equity ratio resting at 1.85. The interest coverage ratio of the stock is 4.64.
Currently, EBITDA for the company is 6.33 million with net debt to EBITDA at 2.42. When we switch over and look at the enterprise to sales, we see a ratio of 0.88. The receivables turnover for the company is 4.91for trailing twelve months and the total asset turnover is 0.53. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.28.
Conclusion
In summary, Cerence Inc (CRNC) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
