Bank of America Issues Pessimistic Forecast for Celsius (NASDAQ:CELH) Stock Price

Celsius (NASDAQ:CELH) had its price target cut by equities researchers at Bank of America from $55.00 to $50.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s target price points to a potential upside of 10.96% from the stock’s previous close.

A number of other research firms have also commented on CELH. Wall Street Zen lowered shares of Celsius from a “buy” rating to a “hold” rating in a research report on Sunday, August 17th. Needham & Company LLC upped their target price on Celsius from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Jefferies Financial Group set a $72.00 price objective on Celsius and gave the company a “buy” rating in a report on Wednesday, September 3rd. Piper Sandler raised their price target 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. Finally, Roth Capital restated a “buy” rating on shares of Celsius in a report on Thursday, October 2nd. Twenty analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.50.

Celsius Stock Performance

Shares of NASDAQ CELH opened at $45.06 on Friday. The stock has a market capitalization of $11.62 billion, a PE ratio of 121.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.34. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.76 and a current ratio of 2.11. Celsius has a 52 week low of $21.10 and a 52 week high of $66.74. The stock has a 50 day moving average price of $58.93 and a 200 day moving average price of $49.26.

Celsius (NASDAQ:CELH) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.24. Celsius had a return on equity of 36.88% and a net margin of 7.91%.The firm had revenue of $739.30 million for the quarter, compared to analyst estimates of $632.13 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was up 83.9% compared to the same quarter last year. Analysts predict that Celsius will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Celsius

In other Celsius news, CFO Jarrod Langhans sold 5,000 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 99,227 shares of the company’s stock, valued at approximately $6,449,755. This represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder William H. Milmoe sold 40,000 shares of the business’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $62.50, for a total value of $2,500,000.00. Following the completion of the sale, the insider owned 221,245 shares in the company, valued at approximately $13,827,812.50. The trade was a 15.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 57,500 shares of company stock valued at $3,581,975. Company insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Celsius

Several hedge funds have recently bought and sold shares of CELH. Harbor Investment Advisory LLC bought a new position in shares of Celsius in the third quarter worth $27,000. Summit Securities Group LLC purchased a new stake in Celsius during the first quarter valued at about $34,000. Hantz Financial Services Inc. lifted 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 purchasing an additional 738 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Celsius by 697.3% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 901 shares of the company’s stock worth $52,000 after purchasing an additional 788 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Celsius by 244.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,119 shares of the company’s stock valued at $52,000 after purchasing an additional 794 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.