Cyxtera Technologies, Inc. (NASDAQ:CYXT) Short Interest Down 8.1% in August

Cyxtera Technologies, Inc. (NASDAQ:CYXTGet Rating) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 5,690,000 shares, a decrease of 8.1% from the August 15th total of 6,190,000 shares. Currently, 7.8% of the company’s stock are sold short. Based on an average trading volume of 648,700 shares, the days-to-cover ratio is presently 8.8 days.

Insider Buying and Selling at Cyxtera Technologies

In other Cyxtera Technologies news, COO James Randolph Rowland sold 9,885 shares of the 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 transaction, the chief operating officer now directly owns 91,052 shares in the company, valued at approximately $1,119,029.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cyxtera Technologies news, CFO Carlos Ignacio Sagasta sold 11,229 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $12.29, for a total transaction of $138,004.41. Following the transaction, the chief financial officer now directly owns 89,708 shares in the company, valued at approximately $1,102,511.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James Randolph Rowland sold 9,885 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $12.29, for a total transaction of $121,486.65. Following the completion of the transaction, 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 ninety days. 73.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Cyxtera Technologies

Several large investors have recently bought and sold shares of CYXT. Starboard Value LP increased its stake in Cyxtera Technologies by 25.7% during the 1st quarter. Starboard Value LP now owns 20,767,571 shares of the company’s stock valued at $253,780,000 after buying an additional 4,241,256 shares during the period. BC Partners Advisors L.P. increased its stake in Cyxtera Technologies by 3.5% during the 1st quarter. BC Partners Advisors L.P. now owns 47,676,705 shares of the company’s stock valued at $582,609,000 after buying an additional 1,627,561 shares during the period. State Street Corp increased its stake in Cyxtera Technologies by 102.8% during the 2nd quarter. State Street Corp now owns 1,168,882 shares of the company’s stock valued at $13,255,000 after buying an additional 592,643 shares during the period. FMR LLC increased its stake in Cyxtera Technologies by 2.0% during the 2nd quarter. FMR LLC now owns 23,816,520 shares of the company’s stock valued at $270,080,000 after buying an additional 473,991 shares during the period. Finally, Granite Investment Partners LLC acquired a new position in Cyxtera Technologies during the 2nd quarter valued at about $4,508,000.

Cyxtera Technologies Trading Down 3.8 %

CYXT stock opened at $4.85 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 3.06. Cyxtera Technologies has a fifty-two week low of $4.69 and a fifty-two week high of $15.42. The firm’s 50-day simple moving average is $9.17 and its 200 day simple moving average is $11.40.

Cyxtera Technologies (NASDAQ:CYXTGet Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.08). Cyxtera Technologies had a negative return on equity of 27.18% and a negative net margin of 27.88%. The firm had revenue of $184.10 million during the quarter, compared to analyst estimates of $185.00 million. During the same period last year, the business earned ($0.88) EPS. The firm’s revenue was up 5.0% on a year-over-year basis. Analysts predict that Cyxtera Technologies will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CYXT. Citigroup upgraded shares of Cyxtera Technologies from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, August 24th. Truist Financial raised their price target on shares of Cyxtera Technologies from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, June 8th. Royal Bank of Canada raised their price target on shares of Cyxtera Technologies from $14.00 to $16.00 in a research report on Monday, June 6th. Finally, Credit Suisse Group reduced their price target on shares of Cyxtera Technologies to $13.00 in a research report on Monday, August 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Cyxtera Technologies Company Profile

(Get Rating)

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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