Celsius (NASDAQ:CELH) Price Target Lowered to $50.00 at Bank of America

Celsius (NASDAQ:CELH) had its price target trimmed by Bank of America from $55.00 to $50.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC raised their target price on shares of Celsius from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Weiss Ratings restated a “hold (c)” rating on shares of Celsius in a research note on Wednesday. Cowen reaffirmed a “buy” rating on shares of Celsius in a research report on Tuesday, September 2nd. Truist Financial lifted their price objective on Celsius from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, Citigroup reissued a “buy” rating on shares of Celsius in a research note on Sunday, August 31st. Twenty analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.95.

Celsius Stock Down 7.9%

Shares of CELH stock traded down $3.54 during mid-day trading on Friday, reaching $41.52. 23,647,743 shares of the company’s stock traded hands, compared to its average volume of 7,628,433. Celsius has a 12 month low of $21.10 and a 12 month high of $66.74. The company has a market cap of $10.71 billion, a P/E ratio of 112.22, a P/E/G ratio of 1.25 and a beta of 1.34. The company has a quick ratio of 1.76, a current ratio of 2.11 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $58.50 and its 200-day moving average price is $49.30.

Celsius (NASDAQ:CELH) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.14. Celsius had a net margin of 7.91% and a return on equity of 36.88%. The company had revenue of $725.11 million during the quarter, compared to analyst estimates of $703.68 million. Celsius’s revenue was up 172.9% on a year-over-year basis. On average, equities analysts expect that Celsius will post 0.89 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul H. Storey sold 7,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $60.93, for a total transaction of $456,975.00. Following the transaction, the insider owned 37,550 shares in the company, valued at $2,287,921.50. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jarrod Langhans sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. Following the completion of the sale, the chief financial officer owned 99,227 shares in the company, valued at $6,449,755. This represents a 4.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,500 shares of company stock valued at $3,581,975 over the last three months. Insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Celsius

A number of institutional investors and hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in Celsius in the first quarter valued at about $795,000. Principal Financial Group Inc. grew its stake in shares of Celsius by 49.0% during the 1st quarter. Principal Financial Group Inc. now owns 550,613 shares of the company’s stock valued at $19,613,000 after purchasing an additional 181,130 shares during the period. IFM Investors Pty Ltd purchased a new stake in shares of Celsius during the 1st quarter valued at about $1,275,000. Envestnet Asset Management Inc. lifted its stake in shares of Celsius by 11.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 180,371 shares of the company’s stock worth $6,425,000 after purchasing an additional 18,281 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in shares of Celsius by 8.8% in the 1st quarter. TD Private Client Wealth LLC now owns 4,071 shares of the company’s stock worth $145,000 after purchasing an additional 328 shares during the period. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.