The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cyxtera Technologies Inc. shares valued at $97,597 were sold by Semah Victor on Aug 10. At $11.77 per share, Semah Victor sold 8,292 shares. The insider’s holdings dropped to 29,202 shares worth approximately $0.13 million following the completion of this transaction.
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Also, Sagasta Carlos Ignacio sold 19,304 shares, netting a total of over 227,208 in proceeds. Following the sale of shares at $11.77 each, the insider now holds 54,258 shares.
Before that, Rowland James Randolph had sold 16,994 shares from its account. In a trade valued at $200,019, the Chief Operating Officer traded Cyxtera Technologies Inc. shares for $11.77 each. Upon closing the transaction, the insider’s holdings decreased to 16,994 shares, worth approximately $0.26 million.
As published in a research note from Citigroup on August 24, 2022, Cyxtera Technologies Inc. [CYXT] has been rated up from a Neutral to a Buy and the price target has been revised to $13. This represents a 66.15% premium over Thursday’s closing price. Analysts at Credit Suisse started covering the stock with ‘”an Outperform”‘ outlook in a report released in early April. As of January 03, 2022, UBS has initiated its “Neutral” rating for CYXT. Earlier on December 16, 2021, RBC Capital Mkts initiated its rating. Their recommendation was “an Outperform” for CYXT stock.
Analyzing CYXT’s Price Performance
On Thursday, Cyxtera Technologies Inc. [NASDAQ: CYXT] plunged -3.51% to $4.40. The stock’s lowest price that day was $4.29, but it reached a high of $4.62 in the same session. During the last five days, there has been a drop of approximately -12.87%. Over the course of the year, Cyxtera Technologies Inc. shares have dropped approximately -65.11%. Shares of the company reached a 52-week high of $15.42 on 06/06/22 and a 52-week low of $4.29 on 09/22/22. A 50-day SMA is recorded $8.85, while a 200-day SMA reached $11.38. Nevertheless, trading volume fell to 1.34 million shares from 0.52 million shares the previous day.
Support And Resistance Levels for Cyxtera Technologies Inc. (CYXT)
According to the 24-hour chart, there is a support level at 4.25, which, if violated, would cause prices to drop to 4.11. In the upper region, resistance lies at 4.58. The next price resistance is at 4.77. RSI (Relative Strength Index) is 20.56 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.67, which suggests the price will decrease in the coming days. Percent R is at 93.53%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Cyxtera Technologies Inc. subject to short interest?
Stocks of Cyxtera Technologies Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.48 million shares to 5.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.46 million shares. A jump of 8.08% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.28 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.28.
Which companies own the most shares of Cyxtera Technologies Inc. (CYXT)?
According to Starboard Value LP filings, the company currently owns 20,767,571 shares, which is about 11.63% of the total CYXT shares outstanding. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $125,127,781. FIAM LLC acquire a 10.64% interest valued at $25.87 million while BlackRock Fund Advisors purchased a 1,770,427 stake. A total of 518,468 shares of Cyxtera Technologies Inc. were bought by The Vanguard Group, Inc. during the quarter, and 411,141 were bought by Teachers Advisors LLC. In its current portfolio, SSgA Funds Management, Inc. holds 1,168,882 shares valued at $7.41 million.
In spite of this, 8 analysts ranked Cyxtera Technologies Inc. stock as a Buy at the end of 2022. On December 10, 2021, Truist assigned a price target of “a Buy” to the stock and initiated coverage with a $15.