Celsius (NASDAQ:CELH) Shares Up 6.9% – Here’s Why

Celsius Holdings, Inc. (NASDAQ:CELH)’s share price was up 6.9% during trading on Monday . The stock traded as high as $28.63 and last traded at $28.96. Approximately 1,763,428 shares changed hands during trading, a decline of 75% from the average daily volume of 7,146,795 shares. The stock had previously closed at $27.08.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CELH shares. Jefferies Financial Group cut their price target on Celsius from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. initiated coverage on Celsius in a report on Thursday, December 12th. They set an “overweight” rating and a $37.00 price objective on the stock. Roth Mkm reaffirmed a “buy” rating and set a $38.00 price objective on shares of Celsius in a report on Friday, February 21st. Needham & Company LLC upped their price objective on Celsius from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Piper Sandler dropped their price objective on Celsius from $47.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Celsius currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Celsius Price Performance

The company has a 50-day moving average price of $25.88 and a 200-day moving average price of $28.77. The firm has a market capitalization of $7.14 billion, a PE ratio of 69.02, a P/E/G ratio of 2.90 and a beta of 1.90.

Celsius (NASDAQ:CELH) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. Celsius had a return on equity of 51.89% and a net margin of 10.70%. The business had revenue of $332.20 million for the quarter, compared to the consensus estimate of $326.07 million. On average, research analysts predict that Celsius Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul H. Storey sold 10,188 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $25.77, for a total transaction of $262,544.76. Following the transaction, the insider now directly owns 45,297 shares in the company, valued at approximately $1,167,303.69. This represents a 18.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joyce Russell sold 4,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $28.47, for a total value of $113,880.00. Following the transaction, the director now owns 19,106 shares in the company, valued at $543,947.82. This trade represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Celsius

Several large investors have recently added to or reduced their stakes in CELH. Champlain Investment Partners LLC purchased a new position in Celsius during the fourth quarter worth about $85,068,000. Contrarius Group Holdings Ltd purchased a new position in shares of Celsius in the 4th quarter worth about $75,535,000. Norges Bank purchased a new position in shares of Celsius in the 4th quarter worth about $72,579,000. Alyeska Investment Group L.P. raised its holdings in shares of Celsius by 60.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 6,877,918 shares of the company’s stock worth $181,164,000 after purchasing an additional 2,591,345 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Celsius in the 4th quarter worth about $61,160,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.