Cowen Lowers Cyxtera Technologies (NASDAQ:CYXT) Price Target to $9.00

Cyxtera Technologies (NASDAQ:CYXTGet Rating) had its price target reduced by investment analysts at Cowen to $9.00 in a research report issued on Tuesday, Stock Target Advisor reports. Cowen’s price objective would indicate a potential upside of 322.54% from the stock’s current price.

CYXT has been the topic of a number of other reports. Citigroup raised shares of Cyxtera Technologies from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Wednesday, August 24th. Credit Suisse Group cut their price objective on shares of Cyxtera Technologies to $6.00 in a report on Thursday, October 13th. Truist Financial cut their price objective on shares of Cyxtera Technologies from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, September 20th. Raymond James lowered their target price on shares of Cyxtera Technologies from $13.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th. Finally, UBS Group lowered their target price on shares of Cyxtera Technologies from $14.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, November 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.86.

Cyxtera Technologies Price Performance

Shares of NASDAQ:CYXT opened at $2.13 on Tuesday. The firm’s 50 day simple moving average is $3.54 and its 200-day simple moving average is $8.77. Cyxtera Technologies has a one year low of $2.08 and a one year high of $15.42. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 3.41.

Institutional Investors Weigh In On Cyxtera Technologies

Several institutional investors and hedge funds have recently made changes to their positions in CYXT. HBK Sorce Advisory LLC acquired a new stake in shares of Cyxtera Technologies during the third quarter worth $26,000. Ensign Peak Advisors Inc acquired a new stake in shares of Cyxtera Technologies during the third quarter worth $28,000. Exchange Traded Concepts LLC acquired a new stake in shares of Cyxtera Technologies during the third quarter worth $30,000. CoreCap Advisors LLC acquired a new stake in shares of Cyxtera Technologies during the second quarter worth $31,000. Finally, Cohen & Steers Inc. lifted its stake in shares of Cyxtera Technologies by 348.4% during the third quarter. Cohen & Steers Inc. now owns 7,740 shares of the company’s stock worth $32,000 after buying an additional 6,014 shares during the period.

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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