Celsius (NASDAQ:CELH) Stock Price Down 4.6% – Here’s Why

Celsius Holdings, Inc. (NASDAQ:CELH) shares were down 4.6% during mid-day trading on Thursday . The company traded as low as $32.21 and last traded at $32.22. Approximately 2,231,419 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 5,726,439 shares. The stock had previously closed at $33.78.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Jefferies Financial Group reduced their target price on shares of Celsius from $53.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, October 10th. TD Cowen decreased their target price on Celsius from $68.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley reiterated an “equal weight” rating and set a $50.00 target price on shares of Celsius in a research report on Tuesday, August 20th. Maxim Group decreased their price objective on Celsius from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, B. Riley lowered their price objective on Celsius from $80.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Celsius currently has an average rating of “Moderate Buy” and an average target price of $57.29.

Celsius Price Performance

The stock has a market cap of $7.89 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 2.29 and a beta of 1.84. The stock’s 50-day moving average is $34.75 and its two-hundred day moving average is $56.02.

Celsius (NASDAQ:CELH) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05. The business had revenue of $402.00 million during the quarter, compared to the consensus estimate of $391.07 million. Celsius had a net margin of 19.58% and a return on equity of 94.75%. The business’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. On average, analysts anticipate that Celsius Holdings, Inc. will post 0.82 EPS for the current fiscal year.

Insider Activity at Celsius

In other Celsius news, CEO John Fieldly sold 74,847 shares of Celsius stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $32.80, for a total value of $2,454,981.60. Following the completion of the transaction, the chief executive officer now directly owns 1,812,490 shares of the company’s stock, valued at $59,449,672. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Celsius

A number of institutional investors and hedge funds have recently modified their holdings of CELH. Lighthouse Investment Partners LLC bought a new stake in Celsius in the second quarter worth $20,024,000. LRI Investments LLC purchased a new position in shares of Celsius during the 1st quarter worth about $134,000. Cetera Investment Advisers boosted its stake in shares of Celsius by 189.3% during the 2nd quarter. Cetera Investment Advisers now owns 186,476 shares of the company’s stock worth $10,646,000 after purchasing an additional 122,011 shares during the period. O Shaughnessy Asset Management LLC bought a new position in Celsius during the 1st quarter valued at about $563,000. Finally, Advisors Asset Management Inc. purchased a new stake in Celsius in the 1st quarter worth about $509,000. Hedge funds and other institutional investors 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.