Chemours Company [NYSE: CC] slipped around -9.05 points on Thursday, while shares priced at $19.67 at the close of the session, down -31.51%. The company report on February 29, 2024 at 12:21 AM that CORRECTING and REPLACING Chemours Announces Management Actions and Delay of Form 10-K; Provides Preliminary Unaudited 2023 Year-End Results.
Eleventh paragraph, first and second sentences of release dated February 28, 2024 should read: At December 31, 2023, the Company maintained cash and cash equivalents of $1.2 billion; it has restricted cash and restricted cash equivalents of $604 million primarily relating to the U.S. public water district settlement.
Compared to the average trading volume of 1.21M shares, CC reached a trading volume of 27387887 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Chemours Company [CC]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CC shares is $31.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CC stock is a recommendation set at 2.56. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BMO Capital Markets have made an estimate for Chemours Company shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on February 29, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $28 to $40. The new note on the price target was released on December 01, 2023, representing the official price target for Chemours Company stock. Previously, the target price had yet another drop from $41 to $37, while BofA Securities kept a Neutral rating on CC stock. On January 24, 2023, analysts increased their price target for CC shares from 31 to 43.
The Average True Range (ATR) for Chemours Company is set at 1.95, with the Price to Sales ratio for CC stock in the period of the last 12 months amounting to 0.49. The Price to Book ratio for the last quarter was 3.87, with the Price to Cash per share for the same quarter was set at 9.75.
How has CC stock performed recently?
Chemours Company [CC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -33.77. With this latest performance, CC shares dropped by -36.59% in over the last four-week period, additionally sinking by -42.52% over the last 6 months – not to mention a drop of -42.45% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CC stock in for the last two-week period is set at 20.36, with the RSI for the last a single of trading hit 14.49, and the three-weeks RSI is set at 25.31 for Chemours Company [CC]. The present Moving Average for the last 50 days of trading for this stock 30.10, while it was recorded at 27.13 for the last single week of trading, and 30.72 for the last 200 days.
Chemours Company [CC]: Deeper insight into the fundamentals
Chemours Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.08 and a Current Ratio set at 1.68.
Earnings analysis for Chemours Company [CC]
With the latest financial reports released by the company, Chemours Company posted 0/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Chemours Company go to 7.40%.
Insider trade positions for Chemours Company [CC]
The top three institutional holders of CC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CC stock with ownership which is approximately 5.8325%.
