Chemours Company [NYSE: CC] jumped around 3.33 points on Thursday, while shares priced at $25.36 at the close of the session, up 15.12%. The company report on March 6, 2024 at 8:30 PM that Chemours Provides Update on Internal Review.
As previously disclosed, the Audit Committee of the Board of Directors of The Chemours Company (“Chemours” or “the Company”) (NYSE: CC), with the assistance of independent outside counsel, has been overseeing an internal review. The review relates to an anonymous report made to the Chemours Ethics Hotline regarding the matters described below. A substantially complete report of the findings of the internal review was delivered to the full Board on March 5, 2024.
Chair Dawn Farrell said “The Chemours Board of Directors takes these issues very seriously and appreciates the diligent efforts by the Audit Committee, with support from its counsel and Company management, to review these matters. We are also grateful for the leadership and dedication of our interim CEO and CFO, their senior management team and all our employees at our business units for their work every day to serve our valued customers.”.
Compared to the average trading volume of 1.75M shares, CC reached a trading volume of 6202769 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 $28.43 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 3.22. 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.
UBS have made an estimate for Chemours Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 05, 2024. While these analysts kept the previous recommendation, BMO Capital Markets dropped their target price from $45 to $19. The new note on the price target was released on February 29, 2024, representing the official price target for Chemours Company stock. Previously, the target price had yet another raise from $28 to $40, while RBC Capital Mkts kept a Outperform rating on CC stock. On June 22, 2023, analysts decreased their price target for CC shares from 41 to 37.
The Average True Range (ATR) for Chemours Company is set at 1.97, with the Price to Sales ratio for CC stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 4.98, 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] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.93. With this latest performance, CC shares dropped by -15.55% in over the last four-week period, additionally sinking by -23.87% over the last 6 months – not to mention a drop of -25.87% 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 45.99, with the RSI for the last a single of trading hit 49.56, and the three-weeks RSI is set at 44.97 for Chemours Company [CC]. The present Moving Average for the last 50 days of trading for this stock 29.18, while it was recorded at 21.77 for the last single week of trading, and 30.54 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%.
