Concentrix Stock Falls 16%

(RTTNews) - Concentrix Corporation (CNXC) stock fell 16.75 percent to $21.00, down $4.23 on Tuesday, despite reporting higher second-quarter earnings and revenue yesterday.

The stock is currently trading at $21.00, compared with its previous close of $25.23. During the session, the shares opened at $20.18 and traded between $19.12 and $22.62. Trading volume reached 3.52 million shares, more than double the average daily volume of 1.72 million shares.

Concentrix reported net income of $55.28 million, or $0.86 per share, compared with $42.09 million, or $0.63 per share, a year earlier. Adjusted earnings increased to $2.63 per share, while revenue rose 1.9% to $2.462 billion from $2.417 billion in the prior-year quarter.

The stock has traded between $19.12 and $62.14 over the past 52 weeks.