Cyxtera Technologies (NASDAQ:CYXT) Hits New 1-Year Low at $7.14

Cyxtera Technologies logoShares of Cyxtera Technologies, Inc. (NASDAQ:CYXT – Get Rating) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $7.14 and last traded at $7.18, with a volume of 4431 shares traded. The stock had previously closed at $7.25.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CYXT. Citigroup upgraded shares of Cyxtera Technologies from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday. Credit Suisse Group dropped their target price on shares of Cyxtera Technologies to $13.00 in a report on Monday, August 15th. Truist Financial lifted their price target on shares of Cyxtera Technologies from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, June 8th. Finally, Royal Bank of Canada lifted their price target on shares of Cyxtera Technologies from $14.00 to $16.00 in a research note on Monday, June 6th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.83.

Cyxtera Technologies Stock Up 1.4%

The stock has a market capitalization of $1.37 billion, a P/E ratio of -6.28 and a beta of 0.88. The company’s 50-day moving average price is $11.65 and its 200 day moving average price is $12.20. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.41 and a current ratio of 0.41.

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Cyxtera Technologies (NASDAQ:CYXT – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.08). The firm had revenue of $184.10 million for the quarter, compared to the consensus estimate of $185.00 million. Cyxtera Technologies had a negative net margin of 27.88% and a negative return on equity of 27.18%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.88) earnings per share. As a group, equity analysts expect that Cyxtera Technologies, Inc. will post -0.9 earnings per share for the current year.

Insider Activity

In other news, COO James Randolph Rowland sold 9,885 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $12.29, for a total transaction of $121,486.65. Following the sale, the chief operating officer now directly owns 91,052 shares in the company, valued at approximately $1,119.029.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cyxtera Technologies news, CFO Carlos Ignacio Sagasta sold 11,229 shares of Cyxtera Technologies stock in a transaction on Monday, August 8th. The shares were sold at an average price of $12.29, for a total value of $138,004.41. Following the sale, the chief financial officer now directly owns 89,708 shares in the company, valued at approximately $1,102,511.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO James Randolph Rowland sold 9,885 shares of Cyxtera Technologies stock in a transaction on Monday, August 8th. The shares were sold at an average price of $12.29, for a total transaction of $121,486.65. Following the completion of the sale, the chief operating officer now owns 91,052 shares in the company, valued at $1,119,029.08. The disclosure for this sale can be found here. Insiders have sold 147.318 shares of company stock worth $1,762.105 in the last three months. Company insiders own 73.20% of the company’s stock.

Institutional Trading of Cyxtera Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Qube Research & Technologies Ltd bought a new stake in Cyxtera Technologies in the 4th quarter valued at $211,000. Sciencast Management LP purchased a new position in shares of Cyxtera Technologies in the 1st quarter worth $286,000. BC Partners Advisors LP grew its stake in shares of Cyxtera Technologies by 3.5% in the 1st quarter. BC Partners Advisors LP now owns 47,676,705 shares of the company’s stock worth $582,609,000 after buying an additional 1,627,561 shares in the last quarter. Privium Fund Management BV purchased a new position in shares of Cyxtera Technologies in the 1st quarter worth $152,000. Finally, Clearline Capital LP grew its stake in shares of Cyxtera Technologies by 91.7% in the 4th quarter. Clearline Capital LP now owns 458,924 shares of the company’s stock worth $5,245,000 after buying an additional 219.567 shares in the last quarter.

Cyxtera Technologies Company Profile

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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.

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