Bank of America Cuts Celsius (NASDAQ:CELH) Price Target to $50.00

Celsius (NASDAQ:CELH) had its price target lowered by Bank of America from $55.00 to $50.00 in a research report released on Friday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

CELH has been the subject of several other reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Celsius in a report on Thursday. B. Riley increased their target price on Celsius from $56.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. raised their price target on Celsius from $68.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Celsius in a report on Wednesday. Finally, Truist Financial increased their price objective on Celsius from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Twenty analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Celsius currently has a consensus rating of “Moderate Buy” and an average price target of $62.95.

Celsius Trading Down 7.9%

NASDAQ:CELH opened at $41.52 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.76 and a debt-to-equity ratio of 0.68. The stock’s 50 day simple moving average is $58.50 and its 200-day simple moving average is $49.46. Celsius has a 12-month low of $21.10 and a 12-month high of $66.74. The firm has a market cap of $10.71 billion, a P/E ratio of 112.22, a PEG ratio of 1.25 and a beta of 1.34.

Celsius (NASDAQ:CELH) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. The firm had revenue of $725.11 million for the quarter, compared to analyst estimates of $703.68 million. Celsius had a net margin of 7.91% and a return on equity of 36.88%. Celsius’s revenue for the quarter was up 172.9% on a year-over-year basis. Equities analysts anticipate that Celsius will post 0.89 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder William H. Milmoe sold 40,000 shares of Celsius stock in a transaction on Friday, October 10th. The stock was sold at an average price of $62.50, for a total transaction of $2,500,000.00. Following the completion of the transaction, the insider owned 221,245 shares of the company’s stock, valued at $13,827,812.50. The trade was a 15.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul H. Storey sold 7,500 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $60.93, for a total transaction of $456,975.00. Following the completion of the sale, the insider owned 37,550 shares in the company, valued at $2,287,921.50. This represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 57,500 shares of company stock worth $3,581,975. 2.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celsius

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC acquired a new stake in shares of Celsius in the third quarter valued at approximately $27,000. Hantz Financial Services Inc. lifted its stake in Celsius by 1,476.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 788 shares of the company’s stock valued at $37,000 after buying an additional 738 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Celsius by 697.3% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 901 shares of the company’s stock valued at $52,000 after buying an additional 788 shares during the last quarter. Summit Securities Group LLC purchased a new position in Celsius during the first quarter worth $34,000. Finally, Quaker Wealth Management LLC acquired a new position in shares of Celsius in the third quarter worth $57,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.