Chemours (NYSE:CC) Shares Down 5.6% - What's Next?

Shares of The Chemours Company (NYSE:CC) fell 5.6% on Friday, reaching a low of $16.77 before closing at $16.79. The trading volume for the day was about 2,224,837 shares, reflecting a 36% increase over the typical daily volume of 1,634,787 shares. The stock closed the previous day at $17.79.

Wall Street Analysts Forecast Growth

A number of research analysts have recently made comments about Chemours. For instance, the Royal Bank of Canada maintained an "outperform" rating and set a target price of $25.00 for Chemours in a report on December 12. Mizuho, on the other hand, reduced their target price from $22.00 to $21.00, recommending a "neutral" stance in a note dated January 7. Similarly, Goldman Sachs adjusted its target price for Chemours from $24.00 to $21.00 but also rated the company as "neutral." Barclays increased its price target from $21.00 to $23.00, rating the stock as "equal weight" in November. Additionally, Morgan Stanley lowered its price objective from $25.00 to $22.00, maintaining an "equal weight" rating in a report dated January 13. Currently, five analysts have issued a hold rating for Chemours, while four have issued a buy rating. According to MarketBeat.com, the stock holds an average rating of "Hold" and an average target price of $24.11.

Chemours Trading Performance

Chemours currently has a market capitalization of $2.51 billion. The company boasts a price-to-earnings ratio of 33.64 and a beta value of 1.81. Its debt-to-equity ratio stands at 6.05, and it has a quick ratio of 0.92, with a current ratio of 1.73. The stock has a 50-day moving average price of $18.47 and a 200-day moving average price of $19.13.

Institutional Trading of Chemours

Recently, several institutional investors have adjusted their positions in Chemours. FMR LLC increased its stake by 3.5% during the third quarter, now owning a total of 18,142,202 shares valued at $368,650,000 following the acquisition of an additional 618,361 shares. Similarly, Vanguard Group Inc. raised its holdings in Chemours by 0.6% in the fourth quarter, owning 15,223,961 shares worth $257,285,000 after purchasing another 94,885 shares. Geode Capital Management LLC also increased its position by 1.2%, now holding 2,491,748 shares valued at $50,646,000. Additionally, Norges Bank acquired a new stake in Chemours valued at approximately $30,702,000. Lastly, Dimensional Fund Advisors LP boosted its position by 22.6% in the fourth quarter, owning 1,779,702 shares worth $30,077,000 after buying an additional 328,414 shares. Currently, institutional investors hold 76.26% of Chemours' total stock.

Chemours Company Overview

The Chemours Company specializes in performance chemicals and operates in multiple global regions, including North America, Asia Pacific, Europe, the Middle East, Africa, and Latin America. The company's operations are divided into three segments: Titanium Technologies, Thermal & Special Solutions, and Advanced Performance Materials. Within the Titanium Technologies segment, Chemours provides TiO2 pigment under the Ti-Pure brand, which is recognized for its capabilities in enhancing whiteness, brightness, opacity, durability, efficiency, and protection across a variety of applications, including coatings, plastic packaging, building materials, and more.

Chemours, Stocks, Market