Celsius (NASDAQ:CELH) Stock Price Down 4.6% After Analyst Downgrade

Celsius Holdings, Inc. (NASDAQ:CELH)’s share price was down 4.6% on Wednesday after Morgan Stanley lowered their price target on the stock from $46.00 to $42.00. Morgan Stanley currently has an equal weight rating on the stock. Celsius traded as low as $27.85 and last traded at $27.89. Approximately 3,643,571 shares traded hands during trading, a decline of 41% from the average daily volume of 6,190,117 shares. The stock had previously closed at $29.24.

Other analysts have also issued research reports about the stock. Jefferies Financial Group lowered their price objective on shares of Celsius from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Piper Sandler decreased their price target on shares of Celsius from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, September 24th. Stifel Nicolaus dropped their price objective on Celsius from $51.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Bank of America decreased their target price on Celsius from $32.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Finally, LADENBURG THALM/SH SH dropped their price target on Celsius from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.72.

Insider Activity at Celsius

In related news, major shareholder William H. Milmoe sold 65,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.15, for a total value of $2,024,750.00. Following the sale, the insider now owns 261,245 shares in the company, valued at approximately $8,137,781.75. This trade represents a 19.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celsius

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors grew its holdings in shares of Celsius by 4.1% during the second quarter. Arkadios Wealth Advisors now owns 7,256 shares of the company’s stock worth $414,000 after purchasing an additional 289 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Celsius by 12.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,567 shares of the company’s stock worth $147,000 after buying an additional 289 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Celsius by 0.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 99,047 shares of the company’s stock worth $3,106,000 after buying an additional 337 shares during the last quarter. Arizona State Retirement System raised its position in shares of Celsius by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 41,615 shares of the company’s stock valued at $2,376,000 after buying an additional 375 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Celsius by 48.3% during the 3rd quarter. Signaturefd LLC now owns 1,160 shares of the company’s stock valued at $36,000 after buying an additional 378 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Celsius Trading Down 7.4 %

The business’s fifty day moving average price is $30.03 and its 200-day moving average price is $40.38. The company has a market capitalization of $6.37 billion, a P/E ratio of 37.63, a P/E/G ratio of 3.44 and a beta of 1.76.

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.