The Chemours Company (NYSE:CC) finished Wednesday with a subtraction of -$1.27 to close at $35.60, a downside of -3.44 percent. An average of 1,356,340 shares of common stock have been traded in the last five days. There was a fall of -$1.03 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 1,285,335 shares traded, while the 50-day average volume stands at 1,736,086.
CC stock has decreased by -5.60% in the last month. The company shares reached their 1-month lowest point of $35.53 on 07/31/23. With the stock rallying to its 52-week high on 07/20/23, shares of the company touched a low of $23.58 and a high of $39.05 in 52 weeks. It has reached a new high 21 times so far this year and achieved 16.26% or $4.98 in price. In spite of this, the price is down -8.83% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
CC stock investors should be aware that The Chemours Company (CC) stock had its last reported insider trading activity 62 days ago on Jun 09. In this transaction, the insider spent $165,537. SVP, Chief Enterprise Transfor, Abbott Matthew S, disposed of 8,912 shares at a price of $34.20 on Jun 08. The insider now owns more than $304,790 worth of shares. Prior to that, President, Thermal Spec Solns Bellezza Alisha went on to Sale 27,716 shares at $35.47 each on Mar 06. An amount of $983,087 was transacted.
Valuation Metrics
The Chemours Company (CC) stock’s beta is 1.97. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.82, the price-to-book (PB) ratio at 6.57.
The company has a payout ratio of 26.64%. The company’s most recent quarterly dividend payment was $0.25 a share, without any change from last year. Its latest increase dividend $0.08 reported on Friday August 3 2018.
Financial Health
The quick ratio of The Chemours Company for the recent quarter was 0.90, and the current ratio was 1.50, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 4.46 and a total debt to equity ratio of 4.49 for the recent quarter. The Chemours Company’s EBITDA margin is 16.16%, while its operating margin for the same period stands at 1.00%. Its gross profit as reported stood at $1.62 billion compared to revenue of $6.79 billion.
Earnings Surprise
For the recent quarter, The Chemours Company had $3.6 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$376.0 million in the quarter, while revenues were grew 153.46%. Shareholders own equity worth $148.08 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at The Chemours Company (CC) price momentum. RSI 9-day as of the close on 09 August was 32.78%, suggesting the stock is Neutral, with historical volatility in this time frame at 27.33%.
As of today, CC’s price is $36.72 -2.81% or -$1.03 from its 5-day moving average. CC is currently trading -7.10% lower than its 20-day SMA and +21.13% higher than its 100-day SMA. However, the stock’s current price level is +24.82% above the SMA50 and +24.52% above the SMA200.
The stochastic %K and %D were 30.45% and 39.63%, respectively, and the average true range (ATR) was 1.16. With the 14-day stochastic at 2.14% and the average true range at 1.15, the RSI (14) stands at 41.76%. The stock has reached -0.14 on the 9-day MACD Oscillator while the 14-day reading was at -0.65.
Analyst Ratings
BofA Securities downgraded The Chemours Company (NYSE: CC) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for The Chemours Company (CC) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell CC, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is CC’s price target for the next 12 months?
Analysts predict a range of price targets between $29.00 and $53.00, with a median target of $39.00. Taking a look at these predictions, the average price target given by analysts for The Chemours Company (CC) stock is $39.45.
