Sunday, June 26, 2022

A Guide To The Risks Of Investing In CEMEX S.A.B. de C.V. (CX)

Berenberg downgraded its CEMEX S.A.B. de C.V. [CX] rating to a Hold from a a Buy in a research note published on Tuesday. A number of analysts have revised their coverage, including Credit Suisse’s analysts, who increased its forecast for the stock in mid April from “a Neutral” to “an Outperform”. Goldman also remained covering CX and has decreased its forecast on April 05, 2022 with a “Neutral” recommendation from previously “Buy” rating. Credit Suisse revised its rating on February 23, 2022. It rated CX as “a Neutral” which previously was an “an Outperform”.


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Price Performance Review of CX

On Tuesday, CEMEX S.A.B. de C.V. [NYSE:CX] saw its stock jump 4.91% to $3.63. On the same session, the stock had its day’s lowest price of $3.50, but rose to a high of $3.65. Over the last five days, the stock has lost 0.00%. CEMEX S.A.B. de C.V. shares have fallen nearly -46.46% since the year began. Nevertheless, the stocks have fallen -53.04% over the past one year. While a 52-week high of $9.09 was reached on 01/05/22, a 52-week low of $3.22 was recorded on 06/17/22. SMA at 50 days reached $4.28, while 200 days put it at $5.74. A total of 10.12 million shares were traded, compared to the trading of 16.32 million shares in the previous session.

Levels Of Support And Resistance For CX Stock

The 24-hour chart illustrates a support level at 3.54, which if violated will result in even more drops to 3.44. On the upside, there is a resistance level at 3.69. A further resistance level may holdings at 3.74. The Relative Strength Index (RSI) on the 14-day chart is 37.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.30%. Stochastics %K at 19.97% indicates the stock is a buying.

How much short interest is there in CEMEX S.A.B. de C.V.?

A steep rise in short interest was recorded in CEMEX S.A.B. de C.V. stocks on Apr 28, 2022, growing by 10000.0 shares to a total of 4.73 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 4.72 million shares. There was a rise of 0.21%, which implies that there is a positive sentiment for the stock.

CEMEX S.A.B. de C.V. [CX] – Who Are The Largest Shareholders?

In filings from Baillie Gifford & Co., it is revealed that the company now owns 62,334,921 shares, or roughly 4.12% of the outstanding CX shares. In other words, the investor’s shares have risen by 19,025,003 from its previous 13-F filing of 43309918.0. Additionally, Fidelity Management & Research Co decreased -19.57% of its stake after which the total value it holdings stand at $204,177,864, while Brandes Investment Partners LP added 19.19% of its stake to hold $146.17 million in the firm. Over the last quarter, TT International Asset Management sold -5,683,477 shares of CEMEX S.A.B. de C.V., while Oaktree Capital Management LP sold -58,014 shares. At present, RWC Asset Advisors is holding 19,333,337 shares valued at $90.29 million. BlackRock Investment Management owned 18,726,167 shares of the company at the time of its most recent 13F filing, worth $87.45 million.

According to FactSet, CEMEX S.A.B. de C.V.’s share price will average $7.59 in the next year, based on opinions of analysts polled by the firm. This is up nearly 102.31 percent from its previous closing price of $3.46. Analysts expect CEMEX S.A.B. de C.V. stock to reach the higher price of $11.00, while the lowest price estimate is $5.00. However, 21 analysts have rated CX stock as a Buy in their predictions for 2022.

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