Celsius (NASDAQ:CELH) Shares Gap Down After Earnings Miss

Celsius Holdings Inc. (NASDAQ:CELH) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $59.92, but opened at $47.60. Celsius shares last traded at $46.2980, with a volume of 11,794,248 shares trading hands.

The company reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.55). 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 7.91% and a return on equity of 36.88%. The company’s revenue for the quarter was up 172.9% on a year-over-year basis.

Wall Street Analyst Weigh In

Several brokerages have commented on CELH. Mizuho raised their price target on shares of Celsius from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, September 2nd. Truist Financial raised their price target on shares of Celsius from $65.00 to $70.00 and gave the company a “buy” rating in a report on Monday, September 8th. Piper Sandler raised their price objective on shares of Celsius from $60.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Maxim Group raised their price objective on shares of Celsius from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Wall Street Zen cut shares of Celsius from a “buy” rating to a “hold” rating in a research report on Sunday, August 17th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.45.

Insider Activity

In other news, major shareholder William H. Milmoe sold 40,000 shares of Celsius stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $62.50, for a total transaction of $2,500,000.00. Following the sale, the insider owned 221,245 shares of the company’s stock, valued at approximately $13,827,812.50. The trade was a 15.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul H. Storey sold 7,500 shares of Celsius stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $60.93, for a total transaction of $456,975.00. Following the sale, the insider directly owned 37,550 shares in the company, valued at $2,287,921.50. The trade was a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 57,500 shares of company stock valued at $3,581,975. Corporate insiders own 2.55% of the company’s stock.

Institutional Investors Weigh In On Celsius

A number of large investors have recently modified their holdings of the stock. Harbor Investment Advisory LLC bought a new stake in Celsius during the third quarter worth about $27,000. Summit Securities Group LLC bought a new stake in Celsius during the first quarter worth about $34,000. Hantz Financial Services Inc. boosted its stake in Celsius by 1,476.0% during the second quarter. Hantz Financial Services Inc. now owns 788 shares of the company’s stock worth $37,000 after acquiring an additional 738 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Celsius by 697.3% during 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 in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Celsius by 244.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,119 shares of the company’s stock worth $52,000 after acquiring an additional 794 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

Celsius Price Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 2.11 and a quick ratio of 1.76. The firm’s 50 day moving average is $59.22 and its 200 day moving average is $49.29. The firm has a market cap of $11.76 billion, a P/E ratio of 124.15, a price-to-earnings-growth ratio of 1.25 and a beta of 1.34.

Celsius Company Profile

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.