Celsius (NASDAQ:CELH) Sees Strong Trading Volume on Earnings Beat

Celsius Holdings, Inc. (NASDAQ:CELH) shares saw an uptick in trading volume on Friday following a stronger than expected earnings report. 20,491,013 shares were traded during mid-day trading, an increase of 129% from the previous session’s volume of 8,938,911 shares.The stock last traded at $31.94 and had previously closed at $25.53.

The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Celsius had a net margin of 15.61% and a return on equity of 59.40%. The company had revenue of $332.20 million during the quarter, compared to analyst estimates of $326.07 million.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CELH. B. Riley reiterated a “buy” rating and set a $49.00 target price (up from $44.00) on shares of Celsius in a research note on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of Celsius in a research note on Thursday, December 12th. They set a “hold” rating and a $32.00 target price for the company. TD Cowen lowered shares of Celsius from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $29.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. assumed coverage on shares of Celsius in a research note on Thursday, December 12th. They set an “overweight” rating and a $37.00 target price for the company. Finally, Piper Sandler reduced their price objective on Celsius from $47.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.67.

Insider Activity

In other news, major shareholder William H. Milmoe sold 65,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $31.15, for a total transaction of $2,024,750.00. Following the sale, the insider now directly owns 261,245 shares in the company, valued at approximately $8,137,781.75. This represents a 19.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Celsius

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HM Payson & Co. raised its position in Celsius by 122.2% in the 4th quarter. HM Payson & Co. now owns 1,000 shares of the company’s stock worth $26,000 after purchasing an additional 550 shares during the period. Signaturefd LLC increased its position in shares of Celsius by 48.3% during the third quarter. Signaturefd LLC now owns 1,160 shares of the company’s stock worth $36,000 after acquiring an additional 378 shares during the period. S.A. Mason LLC increased its position in shares of Celsius by 100.0% during the fourth quarter. S.A. Mason LLC now owns 1,400 shares of the company’s stock worth $37,000 after acquiring an additional 700 shares during the period. Activest Wealth Management purchased a new position in shares of Celsius during the third quarter worth approximately $39,000. Finally, Blue Trust Inc. increased its position in shares of Celsius by 69.0% during the third quarter. Blue Trust Inc. now owns 1,345 shares of the company’s stock worth $42,000 after acquiring an additional 549 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

Celsius Price Performance

The firm has a market capitalization of $7.67 billion, a PE ratio of 45.31, a price-to-earnings-growth ratio of 2.96 and a beta of 1.78. The stock’s 50-day moving average price is $26.00 and its 200 day moving average price is $30.43.

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.