Conduit (LON:CRE) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Conduit Holdings Limited (LON:CRE) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 346.32 and traded as low as GBX 340. Conduit shares last traded at GBX 344, with a volume of 147,311 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently commented on CRE shares. Royal Bank Of Canada upped their price target on shares of Conduit from GBX 300 to GBX 360 and gave the company a “sector perform” rating in a research note on Tuesday, October 14th. Berenberg Bank reiterated a “buy” rating and issued a GBX 700 price target on shares of Conduit in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 530.

Conduit Trading Up 2.8%

The stock’s 50-day simple moving average is GBX 320.07 and its 200-day simple moving average is GBX 346.32. The stock has a market cap of £552.39 million, a price-to-earnings ratio of 44.13 and a beta of 0.52.

Conduit Company Profile

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.