Celsius (NASDAQ:CELH) Stock Price Down 5.6% Following Analyst Downgrade

Shares of Celsius Holdings Inc. (NASDAQ:CELH) were down 5.6% on Wednesday after Piper Sandler lowered their price target on the stock from $69.00 to $61.00. Piper Sandler currently has an overweight rating on the stock. Celsius traded as low as $41.31 and last traded at $40.73. Approximately 1,019,310 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 7,502,171 shares. The stock had previously closed at $43.15.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley set a $70.00 price objective on Celsius in a research note on Tuesday, September 30th. Bank of America lowered their price target on Celsius from $55.00 to $50.00 and set an “underperform” rating on the stock in a report on Friday, November 7th. Citigroup dropped their price objective on shares of Celsius from $73.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Jefferies Financial Group set a $72.00 price target on shares of Celsius and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Celsius from $76.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Twenty research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.16.

Insider Activity

In other news, Director Hal Kravitz bought 10,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was purchased at an average price of $45.24 per share, for a total transaction of $452,400.00. Following the acquisition, the director owned 216,147 shares of the company’s stock, valued at $9,778,490.28. The trade was a 4.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jarrod Langhans sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $65.00, for a total value of $325,000.00. Following the transaction, the chief financial officer owned 99,227 shares of the company’s stock, valued at $6,449,755. This trade represents a 4.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Celsius

Large investors have recently made changes to their positions in the stock. Harbor Investment Advisory LLC purchased a new stake in Celsius in the 3rd quarter valued at about $27,000. Brown Brothers Harriman & Co. grew its position in shares of Celsius by 1,020.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 549 shares of the company’s stock worth $32,000 after buying an additional 500 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Celsius during the first quarter valued at $34,000. Hantz Financial Services Inc. raised its holdings in shares of Celsius by 1,476.0% in the second quarter. Hantz Financial Services Inc. now owns 788 shares of the company’s stock valued at $37,000 after acquiring an additional 738 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in Celsius by 697.3% in the third quarter. Cullen Frost Bankers Inc. now owns 901 shares of the company’s stock worth $52,000 after acquiring an additional 788 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

Celsius Trading Down 6.1%

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.61 and a current ratio of 1.89. The company has a market capitalization of $10.45 billion, a P/E ratio of 403.67, a PEG ratio of 0.81 and a beta of 1.01. The company’s fifty day simple moving average is $50.54 and its 200-day simple moving average is $50.54.

Celsius (NASDAQ:CELH) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.14. The firm had revenue of $725.11 million during the quarter, compared to analysts’ expectations of $703.68 million. Celsius had a net margin of 3.03% and a return on equity of 41.88%. The company’s revenue was up 172.9% compared to the same quarter last year. Research analysts predict that Celsius Holdings Inc. will post 0.89 earnings per share for the current year.

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.