Chemours (NYSE:CC) Reaches New 1-Year High – Time to Buy?

Shares of The Chemours Company (NYSE:CC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $18.50 and last traded at $18.0260, with a volume of 59003 shares changing hands. The stock had previously closed at $18.32.

Analysts Set New Price Targets

Several analysts have recently weighed in on CC shares. Zacks Research lowered shares of Chemours from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. cut their price target on shares of Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Mizuho decreased their price objective on Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $20.00 price objective on shares of Chemours in a research note on Monday, January 19th. Finally, Truist Financial raised their target price on Chemours from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.67.

Chemours Stock Performance

The firm has a market capitalization of $2.89 billion, a P/E ratio of -8.67 and a beta of 1.63. The stock has a 50-day moving average of $14.05 and a 200 day moving average of $14.04. The company has a debt-to-equity ratio of 13.66, a quick ratio of 0.88 and a current ratio of 1.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Entropy Technologies LP boosted its position in shares of Chemours by 478.3% in the 2nd quarter. Entropy Technologies LP now owns 62,075 shares of the specialty chemicals company’s stock worth $711,000 after purchasing an additional 51,341 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Chemours in the third quarter valued at about $2,124,000. Vision One Management Partners LP lifted its stake in Chemours by 10.4% in the second quarter. Vision One Management Partners LP now owns 1,720,189 shares of the specialty chemicals company’s stock valued at $19,696,000 after buying an additional 161,691 shares during the period. Geode Capital Management LLC boosted its holdings in Chemours by 41.4% during the second quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock worth $39,901,000 after buying an additional 1,020,933 shares during the last quarter. Finally, Bryce Point Capital LLC bought a new position in Chemours during the second quarter worth about $955,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.