In yesterday’s Wall Street session, Cerence Inc (NASDAQ:CRNC) shares traded at $14.02, down -4.04% from the previous session.
CRNC stock price is now 59.71% away from the 50-day moving average and 157.24% away from the 200-day moving average. The market capitalization of the company currently stands at $602.70M.
With the price target maintained at $16, Needham recently Upgraded its rating from Hold to Buy for Cerence Inc (NASDAQ: CRNC). On May 10, 2024, Wells Fargo Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock reducing its target price from $25 to quote $6.50, while ‘Needham’ rates the stock as ‘Hold’
In other news, BEAUDOIN THOMAS L, Director sold 5,000 shares of the company’s stock on Jan 02 ’25. The stock was sold for $39,900 at an average price of $7.98. Upon completion of the transaction, the Director now directly owns 178,966 shares in the company, valued at $2.51 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 02 ’25, Director THOMAS L. BEAUDOIN bought 5,000 shares of the business’s stock. A total of $39,900 was incurred on buying the stock at an average price of $7.98. A total of 7.74% of the company’s stock is owned by insiders.
During the past 12 months, Cerence Inc has had a low of $2.34 and a high of $27.50. As of last week, the company has a debt-to-equity ratio of 2.10, a current ratio of 1.20, and a quick ratio of 1.20. The fifty day moving average price for CRNC is $8.5622 and a two-hundred day moving average price translates $5.4513 for the stock.
The latest earnings results from Cerence Inc (NASDAQ: CRNC) was released for 2024-06-30. The net profit margin was -177.40% and return on equity was -140.69% for CRNC. The company reported revenue of $70.54 million for the quarter, compared to $61.66 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.4 percent. For the current quarter, analysts expect CRNC to generate $49.08M in revenue.
