Conduit (LON:CRE) Stock Crosses Below 200 Day Moving Average – What’s Next?

Conduit Holdings Limited (LON:CRE)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 344.19 and traded as low as GBX 324.50. Conduit shares last traded at GBX 325, with a volume of 2,247,387 shares trading hands.

Wall Street Analyst Weigh In

CRE has been the topic of a number of research analyst reports. Peel Hunt reissued a “buy” rating and issued a GBX 540 price target on shares of Conduit in a report on Wednesday, November 5th. Jefferies Financial Group dropped their target price on shares of Conduit from GBX 585 to GBX 374 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Royal Bank Of Canada increased their target price on shares of Conduit from GBX 300 to GBX 360 and gave the company a “sector perform” rating in a research report on Tuesday, October 14th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 700 price target on shares of Conduit in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 493.50.

Conduit Stock Up 0.6%

The stock has a market cap of £508.57 million, a P/E ratio of 40.63 and a beta of 0.52. The business’s 50-day simple moving average is GBX 335.18 and its two-hundred day simple moving average is GBX 344.19.

About Conduit

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.