Chemours (NYSE:CC) Shares Down 5.6% – Here’s Why

The Chemours Company (NYSE:CC) traded down 5.6% during mid-day trading on Friday . The company traded as low as $16.77 and last traded at $16.79. 2,224,837 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 1,634,787 shares. The stock had previously closed at $17.79.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group lowered their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Barclays boosted their price target on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley lowered their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. Finally, Mizuho lowered their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.11.

Chemours Stock Down 5.6 %

The company has a market cap of $2.51 billion, a P/E ratio of 33.59 and a beta of 1.81. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The business’s 50 day moving average is $18.39 and its 200 day moving average is $19.05.

Hedge Funds Weigh In On Chemours

Large investors have recently made changes to their positions in the business. Blue Trust Inc. increased its position in shares of Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 731 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 765 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Chemours during the third quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in shares of Chemours during the third quarter valued at $37,000. Finally, Signaturefd LLC grew its holdings in shares of Chemours by 163.7% during the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 1,216 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.