Conduit (LON:CRE) Reaches New 12-Month Low – Time to Sell?

Conduit Holdings Limited (LON:CRE)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as GBX 439 ($5.53) and last traded at GBX 442.50 ($5.57), with a volume of 116171 shares. The stock had previously closed at GBX 443.50 ($5.58).

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 700 ($8.81) price target on shares of Conduit in a research report on Wednesday.

Conduit Stock Performance

The firm has a market capitalization of £876.57 million, a P/E ratio of 4.11 and a beta of 0.52. The company has a 50-day moving average price of GBX 464.48 and a 200-day moving average price of GBX 498.51.

Conduit Company Profile

Conduit Re is a pure play global reinsurance business based in Bermuda. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.