Celsius (NASDAQ:CELH) Sets New 52-Week High Following Analyst Upgrade

Posted by on Jun 24th, 2023

Celsius Holdings, Inc. (NASDAQ:CELH – Get Rating)’s stock price reached a new 52-week high during trading on Friday after Wedbush raised their price target on the stock from $130.00 to $155.00. The stock traded as high as $152.75 and last traded at $152.16, with a volume of 460495 shares. The stock had previously closed at $147.87.

Other research analysts have also recently issued reports about the stock. Piper Sandler lifted their target price on shares of Celsius from $130.00 to $165.00 in a report on Monday, June 5th. Maxim Group lifted their target price on shares of Celsius from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Stifel Nicolaus lifted their target price on shares of Celsius from $129.00 to $155.00 in a report on Wednesday, June 7th. LADENBURG THALM/SH SH boosted their price objective on shares of Celsius from $110.00 to $122.00 in a report on Wednesday, May 10th. Finally, Bank of America boosted their price objective on shares of Celsius from $145.00 to $165.00 in a report on Wednesday, June 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $150.20.

Insider Activity

In related news, major shareholder William H. Milmoe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $122.03, for a total transaction of $2,440,600.00. Following the completion of the sale, the insider now directly owns 29,915 shares in the company, valued at $3,650,527.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Celsius news, Director Caroline S. Levy sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $134.51, for a total value of $295,922.00. Following the completion of the transaction, the director now directly owns 17,605 shares in the company, valued at $2,368,048.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder William H. Milmoe sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $122.03, for a total transaction of $2,440,600.00. Following the completion of the transaction, the insider now owns 29,915 shares of the company’s stock, valued at $3,650,527.45. The disclosure for this sale can be found here. Insiders sold 888,109 shares of company stock valued at $102,736,557 over the last three months. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Celsius

A number of hedge funds have recently modified their holdings of CELH. FMR LLC boosted its position in shares of Celsius by 19.1% during the first quarter. FMR LLC now owns 8,725,350 shares of the company’s stock worth $810,934,000 after acquiring an additional 1,401,160 shares during the last quarter. BlackRock Inc. boosted its position in shares of Celsius by 0.9% during the first quarter. BlackRock Inc. now owns 6,435,150 shares of the company’s stock worth $355,091,000 after acquiring an additional 58,764 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Celsius by 1.0% during the first quarter. Vanguard Group Inc. now owns 4,238,161 shares of the company’s stock worth $233,862,000 after acquiring an additional 43,419 shares during the last quarter. Capital International Investors bought a new position in shares of Celsius during the first quarter worth $93,034,000. Finally, Wellington Management Group LLP boosted its position in shares of Celsius by 47.4% during the first quarter. Wellington Management Group LLP now owns 1,682,069 shares of the company’s stock worth $156,331,000 after acquiring an additional 540,995 shares during the last quarter. 58.86% of the stock is currently owned by institutional investors.

Celsius Price Performance

The stock’s 50-day moving average is $122.59 and its two-hundred day moving average is $105.97. The stock has a market cap of $11.41 billion, a P/E ratio of -64.98 and a beta of 1.81.

Celsius (NASDAQ:CELH – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.18. The company had revenue of $259.94 million for the quarter, compared to the consensus estimate of $219.58 million. Celsius had a negative net margin of 19.58% and a positive return on equity of 9.01%. Celsius’s revenue was up 94.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. On average, analysts anticipate that Celsius Holdings, Inc. will post 1.43 EPS for the current fiscal year.

About Celsius

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Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional drinks and liquid supplements in the United States and internationally. The company offers various carbonated and non-carbonated functional energy drinks under the CELSIUS Originals name; dietary supplement in carbonated flavors, including apple jack'd, orangesicle, inferno punch, cherry lime, blueberry pomegranate, strawberry dragon fruit, tangerine grapefruit, and jackfruit under the CELSIUS HEAT name; and branched-chain amino acids functional energy drink that fuels muscle recovery under the CELSIUS BCCA+ENERGY name.

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